| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11435 |
| DP11435 Income Distribution and Aggregate Saving: A Non-Monotonic Relationship | |
| Peter Bofinger; Philipp Scheuermeyer | |
| 发表日期 | 2016-08-15 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Drawing on a panel of 29 advanced economies, this paper documents a concave and non-monotonic link between inequality and the aggregate household saving rate. We find that, at a low level of inequality, more inequality is associated with higher saving; but also show that a negative relationship between inequality and saving prevails, where inequality is high. Using different empirical approaches, we locate the turning-point, where the marginal effect of inequality turns from positive to negative, at a net income Gini coefficient of around 30. Moreover, we show that the relationship between inequality and saving also depends on financial market conditions: While inequality increases saving, when credit is scarce, it tends to reduce saving at high levels of credit. This paper primarily focuses on household saving, yet we also find some evidence for a non-monotonic effect of inequality on private saving, national saving, and the current account balance. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Saving Income distribution Panel data Non-linearities |
| URL | https://cepr.org/publications/dp11435 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540249 |
| 推荐引用方式 GB/T 7714 | Peter Bofinger,Philipp Scheuermeyer. DP11435 Income Distribution and Aggregate Saving: A Non-Monotonic Relationship. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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