Dissecting Saving Dynamics: Measuring Wealth, Precautionary, and Credit Effects
NBER Working Paper No. 26131
---- Acknowledgments ----
We thank Andra Buca, Kerstin Holzheu, Geoffrey Keim, Jakub Rybák, Camilla Sacca and Joanna Sławatyniec for excellent research assistance, and Ricardo Reis, John Duca, Karen Dynan, Robert Gordon, Bob Hall, Mathias Hoffmann, Charles Kramer, David Laibson, Maria Luengo-Prado, Bartosz Mackowiak, John Muellbauer, Valerie Ramey, David Robinson, Damiano Sandri and Jonathan Wright for insightful comments. We are grateful to Abdul Abiad, John Duca, John Muellbauer and Anthony Murphy for sharing their data. The views presented in this paper are those of the authors, and should not be attributed to the International Monetary Fund, its Executive Board, or management, nor to the European Central Bank, nor to the National Bureau of Economic Research. An initial version of this paper was published as IMF Working Paper 12/219.