<< N°149
| N°149 | ||
| Issue Q1 2017 | ||
| Wealth effects on world private financial saving | ||
|
Ray C. Fair |
||
| This paper shows that about 70% of the variance of the yearly change in the world private financial saving rate can be explained by lagged changes in world stock and housing values for the sample period 1982–2013. A theory consistent with these results is that world asset-value changes affect world consumption and investment spending, which affects the world private financial saving rate. |
Abstract |
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| Financial saving ; World economy ; Wealth effects ; | Keywords | |
| E21 ; E44 ; F41 ; | JEL classification | |
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