What drives the US personal saving rate? The role of wealth, credit and uncertainty

Jiri Slacalek

Research Bulletin, 2012, vol. 16, 10-12

Abstract: Since the beginning of the Great Recession at the end of 2007 US households have received a triple dose of bad news: a collapse of asset values, a sharp tightening in credit availability and an extensive increase in economic and financial uncertainty. Focusing on the dynamics of personal saving, our research explores how these shocks affect the nature of the recovery. JEL Classification: E21, E32

Keywords: consumption; saving; wealth (search for similar items in EconPapers)
Date: 2012-07
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbrbu:2012:0016:3

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