Should the decline in the personal saving rate be a cause for concern?

Article OPEN
C. Alan Garner;
(2006)
  • Subject: Saving and investment

The personal saving rate has received particular attention recently because saving was negative in 2005 for the first time since the Great Depression. Although saving declined in other developed countries during this period, the U.S. decline was more pronounced than in ... View more
  • References (26)
    26 references, page 1 of 3

    Board of Governors of the Federal Reserve System. 2006. “Z1 Release. Flow of Funds Accounts of the United States,” March 9, http://www.federalreserve.gov/ releases/z1/current/default.htm.

    Bucks, Brian K., Arthur B. Kennickell, and Kevin B. Moore. 2006. “Recent Changes in U.S. Family Finances: Evidence from the 2001 and 2004 Survey of Consumer Finances,” Federal Reserve Bulletin, http://www.federalreserve.gov/ pubs/bulletin/default.htm.

    Case, Karl E., John M. Quigley, and Robert J. Shiller. 2005. “Comparing Wealth Effects: The Stock Market versus the Housing Market,” Advances in Macroeconomics, vol. 5, no. 1.

    Corrado, Carol A., Charles R. Hulten, and Daniel E. Sichel. 2006. “Intangible Capital and Economic Growth,” National Bureau of Economic Research working paper no. 11948, January.

    Eisinger, Jesse. 2006. “Long & Short: Night of the Living Debt-Overextended Consumers Present A Serious Issue for the Economy, And How Will Retailers React?” The Wall Street Journal, January 4.

    Federal Reserve Bank of Philadelphia. 2006. “Real-Time Data Set,” http://www.phil.frb.org/econ/forecast/reaindex.html.

    Feroli, Michael. 2006. “Personal Saving Rate Understated by 11/2 Percentage Points,” JPMorgan Chase Bank, U.S. Weekly Prospects, April 21.

    Friedman, Milton. 1957. A Theory of the Consumption Function. Princeton: Princeton University Press.

    Greenspan, Alan. 1996. “Technological Advances and Productivity,” speech to the 80th Anniversary Awards Dinner of the Conference Board, New York, October 16.

    Hakkio, Craig S., and Elisha J. Wiseman. 2006. “Social Security and Medicare: The Impending Fiscal Challenge,” Federal Reserve Bank of Kansas City Economic Review, First Quarter.

  • Metrics
Share - Bookmark