relationship between total regional saving and investment is significantly negative in Canada and the United Kingdom, in contrast … is negative in Canada which suggests that capital is mobile for individuals. The relationship between retained earnings … and private investment is significantly positive in the U.K. and Canada suggesting capital immobility for firms but a test …

Relations between national public and private savings, domestic investment, and the current account are analyzed with … for the US, Japan, Germany and the UK are compared with estimation results from partial modeling approached adopted in the … literature. The results from the two approaches are rather different. The simulation results indicate that private savings …