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dc.contributor.authorSchrooten, Mechthilden
dc.contributor.authorStephan, Sabineen
dc.date.accessioned2009-01-28T15:39:49Z-
dc.date.available2009-01-28T15:39:49Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/18167-
dc.description.abstractPrivate 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.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x431en
dc.subject.jelE21en
dc.subject.jelC33en
dc.subject.ddc330en
dc.subject.keywordDynamic panel data modelen
dc.subject.keywordprivate savingsen
dc.subject.keywordEuropean Unionen
dc.subject.keywordGMM estimatoren
dc.subject.stwSparenen
dc.subject.stwGeldpolitiken
dc.subject.stwFinanzpolitiken
dc.subject.stwWirtschaftspolitische Wirkungsanalyseen
dc.subject.stwSchätzungen
dc.subject.stwEinkommenen
dc.subject.stwEU-Staatenen
dc.titleDoes Macroeconomic Policy Affect Private Savings in Europe? Evidence From a Dynamic Panel Data Model-
dc.typeWorking Paperen
dc.identifier.ppn390960985en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp431en

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