| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11520 |
| 来源ID | Working Paper 11520 |
| Savings Gluts and Interest Rates: The Missing Link to Europe | |
| Michael P. Dooley; David Folkerts-Landau; Peter M. Garber | |
| 发表日期 | 2005-08-01 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Data for world savings rates do not suggest that an aggregate glut of world savings has depressed US and international interest rates in recent years. Unusual but offsetting changes in savings rates have been limited to three regions: sharp declines in the US have been matched by sharp increases for developing Asia and the Middle East. The world saving rate has increased very little. There are two important features of this change in regional savings behavior. First, three-quarters of the increase in Asian and Middle Eastern savings has been placed in international reserves. Second, all these additional savings have been absorbed by the United States. Even if reserves are mostly placed initially in the US, we would not expect all the savings exported from these high savings regions to remain in the United States. A collapse of expected profits outside the US seems to us a compelling explanation for the US current account deficit and depressed international interest rates. |
| 主题 | International Economics ; International Factor Mobility ; International Finance |
| URL | https://www.nber.org/papers/w11520 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569163 |
| 推荐引用方式 GB/T 7714 | Michael P. Dooley,David Folkerts-Landau,Peter M. Garber. Savings Gluts and Interest Rates: The Missing Link to Europe. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11520.pdf（142KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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