Voinea, Liviu; Loungani, Prakash - In: Intereconomics : review of European economic policy 57 (2022) 4, pp. 233-237
There is a consensus among academics and policymakers that the excess savings built up by households during the past couple of years are specific to the pandemic. Based on data from the past half century for the US, this article shows that savings generally increase during recessions; the...
