The Global Decline in Saving: Some International Comparisons

adjustment age cohorts age groups aggregate saving rate Australia average Barry Eichengreen Bosworth Brookings Discussion Papers Brookings Institution Bryant budget deficits capital-output ratios CHPR coefficient consumption correlation cycle model decline in saving demographic changes differences Domestic Product effect of income elderly empirical equation estimates European Countries exchange rates Feldstein financial assets Foreign Exchange Markets government saving Horioka Implied income growth Income Quintile incorporated businesses increased industrial countries inflation International Economics Investment Rates Japanese LEGEND private saving LPAGED Macroeconomic McKibbin measure of private measures of saving Modigliani national accounts national saving negative Net Domestic Product OECD overall saving rate Percent of Disposable period Peter Hooper population private disposable income private saving rate process of aggregation rate of income rates of saving real interest rates retired Robert Z saving and investment saving behavior significant Stanley Fischer substantial Table trends United wealth wealth-income ratio worker households Y₁