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https://hdl.handle.net/10419/18167
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Schrooten, Mechthild | en |
dc.contributor.author | Stephan, Sabine | en |
dc.date.accessioned | 2009-01-28T15:39:49Z | - |
dc.date.available | 2009-01-28T15:39:49Z | - |
dc.date.issued | 2004 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18167 | - |
dc.description.abstract | 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. | en |
dc.language.iso | eng | en |
dc.publisher | |aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlin | en |
dc.relation.ispartofseries | |aDIW Discussion Papers |x431 | en |
dc.subject.jel | E21 | en |
dc.subject.jel | C33 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Dynamic panel data model | en |
dc.subject.keyword | private savings | en |
dc.subject.keyword | European Union | en |
dc.subject.keyword | GMM estimator | en |
dc.subject.stw | Sparen | en |
dc.subject.stw | Geldpolitik | en |
dc.subject.stw | Finanzpolitik | en |
dc.subject.stw | Wirtschaftspolitische Wirkungsanalyse | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Einkommen | en |
dc.subject.stw | EU-Staaten | en |
dc.title | Does Macroeconomic Policy Affect Private Savings in Europe? Evidence From a Dynamic Panel Data Model | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 390960985 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:diw:diwwpp:dp431 | en |
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