-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tighening of …

We investigate the cyclicality of the private savings to GDP ratio for a panel of 19 OECD countries over the period … 1971-2009. We find robust evidence that the private savings ratio is countercyclical. Three theories unambiguously predict … a higher private savings ratio during recessions: a Ricardian offset effect, the presence of credit constraints, and …

This paper investigates empirically why Japan's household savings rate fell in the 1990s. We constructed an economic …'s household savings rate. Our simulation analysis demonstrated that if the proportion of liquidity-constrained households in the … 1990s had stayed at the level as that of the late 1980s, the household savings rate would have increased by four percent …

literature. Our findings can also be interpreted in the context of the secular decline in the US personal savings rate before the …

vermehrt gespart. Ein großer Teil der Haushalte - 40 Prozent - kann allerdings kein Geld zurücklegen. Sparen können vor allem … Rückmarsch. Haushalte mit hohen Einkünften sparen generell nicht nur mehr als die Bezieher mittlerer oder geringer Einkommen …