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Národní úspory a analýza relativní přespořenosti či podspořenosti ekonomik
[National Saving and Analysis of Relatively Oversaving or Undersaving of Economies]

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  • Jiří Pour

Abstract

This paper builds a simple framework for analysing over- or undersaving of economies in the context of external economic imbalances. Macroeconomic determinants of optimal household and corporate saving, based on microeconomic theory, are used as explanatory variables in a benchmark panel regression model. Among other things, the model shows chronic oversaving of China and other Asian economies (Korea, Japan), and undersaving of the USA and the United Kingdom. Czechia and the other V4 countries showed no significant deviation from the model, nor did Germany or France.

Suggested Citation

  • Jiří Pour, 2020. "Národní úspory a analýza relativní přespořenosti či podspořenosti ekonomik [National Saving and Analysis of Relatively Oversaving or Undersaving of Economies]," Politická ekonomie, Prague University of Economics and Business, vol. 2020(6), pages 650-678.
    • Handle: RePEc:prg:jnlpol:v:2020:y:2020:i:6:id:1301:p:650-678
    DOI: 10.18267/j.polek.1301
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    References listed on IDEAS

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    More about this item

    Keywords

    national saving; external economic balance; optimal saving; oversaving; undersaving; panel regression; implied equilibrium;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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