Household Saving in France : Stochastic Income and Financial Deregulation

The household saving ratio in France has undergone very sharp changes over the past two decades, falling dramatically in the first part of the 1980s before rising in more recent years. This paper emphasizes two factors in the evolution of private saving in France. The first relates to perceptions of...

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Main Author: Levy, Joaquim Vieira Ferreira
Other Authors: Ostry, Jonathan David
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1994, 1994
Series:IMF Working Papers; Working Paper
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:The household saving ratio in France has undergone very sharp changes over the past two decades, falling dramatically in the first part of the 1980s before rising in more recent years. This paper emphasizes two factors in the evolution of private saving in France. The first relates to perceptions of household income growth and uncertainty, which are likely to have been affected by deteriorating labor market conditions, and which may therefore help to account for the recent increase in saving. The second factor relates to financial deregulation which may have lowered saving and increased its sensitivity to interest rate changes. It is argued that both factors have played some role in the evolution of French household saving
Physical Description:32 p.
ISBN:1451855745
9781451855746