Why aren't developed countries saving?

Loretti Dobrescu, Laurence Kotlikoff and Alberto Motta

European Economic Review, 2012, vol. 56, issue 6, 1261-1275

Abstract: National saving rates differ enormously across developed countries. But these differences obscure a common trend, namely a dramatic decline over time. France and Italy, for example, saved over 23% and 19% of national income in 1970, but only 9% and 4% respectively in 2008. Japan saved almost 33% in 1970, but only 7% in 2008. And the U.S. saved around 11% in 1970, but only 1% in 2008. What explains these international and intertemporal differences? Is it demographics, government spending, productivity growth or preferences?

Keywords: National saving; Discount factor; Simulated method of moments (search for similar items in EconPapers)
JEL-codes: C32 D91 E21 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Working Paper: Why Aren't Developed Countries Saving? (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:56:y:2012:i:6:p:1261-1275

DOI: 10.1016/j.euroecorev.2012.04.003

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