UNSPECIFIED. (1999) The public-private savings mirror and causality relations among private savings, investment, and (twin) deficits: A full modeling approach. JOURNAL OF POLICY MODELING, 21 (5). pp. 579-605. ISSN 0161-8938

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Abstract

Relations between national public and private savings, domestic investment, and the current account are analyzed with the Global Econometric Model (National Institute, London). Simulation results obtained with this full modeling approach for the US, Japan, Germany, and the UK are compared with estimation results from the partial modeling approaches adopted in the literature. The results from the two approaches are rather different. The simulation results indicate that private savings largely offset public savings (and vice versa) in the short run. In contrast with findings in partial models, a smaller effect of aggregate savings on investment is found and government deficits tend to increase current account imbalances. (C) 1999 Society for Policy Modeling. Published by Elsevier Science Inc.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions
Journal or Publication Title:	JOURNAL OF POLICY MODELING
Publisher:	ELSEVIER SCIENCE INC
ISSN:	0161-8938
Date:	September 1999
Volume:	21
Number:	5
Number of Pages:	27
Page Range:	pp. 579-605
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/14101

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