Consumption in China is unusually low and has continued to decline as a share of GDP over the past decade. A key policy …

Consumption in China is unusually low and has continued to decline as a share of GDP over the past decade. A key policy …

Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the … global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global … savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries …

relative rise of the U.S. savings rate is helping narrow global imbalances. But with a likely earlier recovery in the U …

Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the … global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global … savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries …