There is a consensus among academics and policymakers that the excess savings built up by households during the past … savings generally increase during recessions; the pandemic is different only by the magnitude of these savings, but not by … their sign. Moreover, it suggests that these excess savings are rather compensatory than precautionary, as households save …

contain financial risk, but that it would also impose austerity on the rest of Europe unless money supply expands even further. …

resources. This article outlines a strategy for increasing the extent to which domestic savings are made available for …