Statistical Office, we provide empirical evidence that savings and loan contracts (SLCs) are a macrosocial phenomenon that smooths …

in the reforming country, employed workers increase their precautionary savings to compensate for reduced government …-provided insurance. A portion of these additional savings flows to the non-reforming country and depresses long-term consumption due to … aggregate savings and net foreign assets, the increase of net exports, the real exchange rate depreciation within the Eurozone …

In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded … savings to the host country. This paper suggests a framework to correct for this misleading attribution and applies this … concept to Germany. For the years 2012 to 2020, our corrections retrospectively reduce German savings and consequently the …