Politická ekonomie 2020, 68(6):650-678 | DOI: 10.18267/j.polek.1301

Národní úspory a analýza relativní přespořenosti či podspořenosti ekonomik

Jiří Poura
a Vysoká škola ekonomická v Praze, Fakulta financí a účetnictví, Praha, Česká republika

National Saving and Analysis of Relatively Oversaving or Undersaving of Economies

This paper builds a simple framework for analysing over- or undersaving of economies in the context of external economic imbalances. Macroeconomic determinants of optimal household and corporate saving, based on microeconomic theory, are used as explanatory variables in a benchmark panel regression model. Among other things, the model shows chronic oversaving of China and other Asian economies (Korea, Japan), and undersaving of the USA and the United Kingdom. Czechia and the other V4 countries showed no significant deviation from the model, nor did Germany or France.

Keywords: national saving, external economic balance, optimal saving, oversaving, undersaving, panel regression, implied equilibrium
JEL classification: E21, E27, F32

Received: September 30, 2019; Revised: October 30, 2020; Accepted: November 3, 2020; Published: December 21, 2020  Show citation

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Pour, J. (2020). National Saving and Analysis of Relatively Oversaving or Undersaving of Economies. Politická ekonomie, 68(6), 650-678. doi: 10.18267/j.polek.1301
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