Benevolent savings and macroeconomic variables: some empirical evidence from Iran
Ali Reza Oryoie and
Macroeconomics and Finance in Emerging Market Economies, 2021, vol. 14, issue 3, 278-290
Many studies have investigated the impact of savings on macroeconomic variables. However, there is no study on the effect of benevolent saving on macroeconomic variables. In benevolent saving/lending, households save part of their income for lending benevolently at zero interest rates to the needy population. This study applies the Toda-Yamamoto causality test on a novel quarterly time-series data provided by the Central Bank of Iran from 1988 to 2015 to test the relationship between benevolent savings and a few macroeconomic variables. The results show that benevolent savings have short-run positive effects on total consumption and total investment.
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Persistent link: https://EconPapers.repec.org/RePEc:taf:macfem:v:14:y:2021:i:3:p:278-290
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