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Title:Stock Market Wealth, Private Saving, and the Current Account in the United States: Should We Worry? PDF Logo
Authors:Strauß, Hubert M.
Issue Date:1999
Series/Report no.:Kieler Arbeitspapiere 963
Abstract:The paper investigates by means of cointegration analysis whether the recently observed low levels of private saving and the current account balance in the United States are worrisome in the sense that they cannot be sufficiently explained by determinants which performed well in the past. Stock market wealth of private households is taken into account and turns out to be the main dampening factor of private saving during the nineties. Unlike the current account deficit, which reflects low saving, higher growth with respect to the rest of the world and the high dollar, private saving is much lower than predicted by the model in 1999.
Subjects:Private Saving
Current Account Balance
Stock Market Wealth
Cointegration
JEL:F32
H31
E27
E21
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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