Please use this identifier to cite or link to this item:
http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18167| Title: | Does Macroeconomic Policy Affect Private Savings in Europe? : Evidence From a Dynamic Panel Data Model |
| Keywords: | E21 C33 ddc:330 Dynamic panel data model private savings European Union GMM estimator Sparen Geldpolitik Finanzpolitik Wirtschaftspolitische Wirkungsanalyse Schätzung Einkommen EU-Staaten |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Deutsches Institut für Wirtschaftsforschung (DIW) Berlin |
| Description: | Private savings mirror consumption behavior. In Europe, the dynamic of consumption is very low, and at the same time, savings are increasing. Is this a result of macroeconomic policy? A GMM estimator is used to analyze the determinants of private saving in the EU?s 15 member states. Our main findings are that savings rates inherit a certain degree of persistence and that income growth causes an increase in saving. While monetary policy is totally insignificant, fiscal policy has a major impact on private savings. The long-run effects of public deficits are greater than the effects of rising income. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18167 |
| Other Identifiers: | http://hdl.handle.net/10419/18167 ppn:390960985 |
| Appears in Collections: | EconStor |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.