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National Savings and Targets for the Federal Budget Balance in the United States
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 1989: Issue 103
Language:
English
Publication Date:
01 Jan 1989
DOI:
https://doi.org/10.5089/9781451948028.001
ISBN:
9781451948028
ISSN:
1018-5941
Pages:
46
Keywords:
WP; saving rate; investment balance; Net business saving; household saving; regarding saving; private saving; business saving; Private savings; Consumption; Production growth; Public sector; Stocks
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The U.S. national savings rate has declined in the 1980s, with both public and private components falling. This paper discusses that decline and whether a policy response is needed. The drop in the private savings rate appears to reflect factors not easily reversible by policy and increases in public saving may thus provide the most effective means of bolstering national savings. Illustrative calculations based on two alternative frameworks indicate that a net national saving rate substantially above its current level could be a desirable objective and that a large federal budget surplus could be needed to that end.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund