Arbeitspapier
The Corporate Saving Glut and the Current Account in Germany
We investigate for Germany the positive correlation between the corporate savings glut in the non-financial corporate sector and the current account surplus from a capital account perspective. By employing sign restrictions our findings suggest that mostly labor market, world demand and financial friction shocks can account for the joint dynamics of excess corporate savings and the current account surplus. Private savings shocks, in contrast, cannot explain the correlation. We conclude that a corporate savings glut is a main driver of the current account surplus.
- Language
-
Englisch
- Bibliographic citation
-
Series: ifo Working Paper ; No. 280
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
Current Account Adjustment; Short-term Capital Movements
Macroeconomic Issues of Monetary Unions
- Subject
-
Current account
corporate savings
macro shocks
- Event
-
Geistige Schöpfung
- (who)
-
Klug, Thorsten
Schuler, Tobias
Mayer, Eric
- Event
-
Veröffentlichung
- (who)
-
ifo Institute - Leibniz Institute for Economic Research at the University of Munich
- (where)
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Munich
- (when)
-
2018
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Klug, Thorsten
- Schuler, Tobias
- Mayer, Eric
- ifo Institute - Leibniz Institute for Economic Research at the University of Munich
Time of origin
- 2018
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