Konferenzbeitrag
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.
- Sprache
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Englisch
- Erschienen in
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2019: 30 Jahre Mauerfall - Demokratie und Marktwirtschaft - Session: Open Economy Macroeconomics ; No. G03-V1
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Current Account Adjustment; Short-term Capital Movements
Macroeconomic Issues of Monetary Unions
- Thema
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Current account
corporate savings
macro shocks.
- Ereignis
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Geistige Schöpfung
- (wer)
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Klug, Thorsten
Mayer, Eric
Schuler, Tobias
- Ereignis
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Veröffentlichung
- (wer)
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ZBW - Leibniz-Informationszentrum Wirtschaft
- (wo)
-
Kiel, Hamburg
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Konferenzbeitrag
Beteiligte
- Klug, Thorsten
- Mayer, Eric
- Schuler, Tobias
- ZBW - Leibniz-Informationszentrum Wirtschaft
Entstanden
- 2019
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