سال انتشار:
2021
عنوان انگلیسی مقاله:
The corporate saving glut and the current account in Germany
ترجمه فارسی عنوان مقاله:
GLUT صرفه جویی در شرکت و حساب جاری در آلمان
منبع:
ScienceDirect- Elsevier- Journal of International Money and Finance, 102515: Corrected proof, 102515: doi:10:1016/j:jimonfin:2021:102515
نویسنده:
Thorsten Klug
چکیده انگلیسی:
We investigate, in the case of Germany, the positive correlation between the cyclical components of the corporate saving glut in the non-financial corporate sector and the current
account surplus from a capital account perspective. Employing sign restrictions, our findings suggest that mostly labor supply, world demand and financial friction shocks account
for the joint dynamics of excess corporate saving and the current account surplus.
Household saving shocks, by contrast, cannot explain the correlation. We conclude that,
explained through these factors, the corporate saving glut is an important driver of the
cyclical component of the current account.
keywords: حساب جاری | صرفه جویی در شرکت | شوک های ماکرو | Current account | Corporate saving | Macro shocks
قیمت: رایگان
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