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An Exploration of the Private Sector Response to Changes in Government Saving Across OECD Countries

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  • Mr. Alun H. Thomas

Abstract

Several recent papers have examined the response of national saving to changes in fiscal policy. This paper uses knowledge about the intergenerational fiscal position of a country to determine whether this information helps to explain cross country differences in the nature of the response. Using OECD data the paper finds that in countries in intergenerational fiscal balance, the private sector completely offsets fiscal policy changes whereas in other countries the private sector offset is only partial. Moreover, in countries with large intergenerational fiscal imbalances, strong fiscal consolidation packages reduce the impact of changes in fiscal policy on national saving.

Suggested Citation

  • Mr. Alun H. Thomas, 2001. "An Exploration of the Private Sector Response to Changes in Government Saving Across OECD Countries," IMF Working Papers 2001/069, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2001/069
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    Cited by:

    1. Mr. Benedict J. Clements & Mr. Sanjeev Gupta & Mr. Emanuele Baldacci & Mr. Carlos Mulas-Granados, 2002. "Expenditure Composition, Fiscal Adjustment, and Growth in Low-Income Countries," IMF Working Papers 2002/077, International Monetary Fund.
    2. Gupta, Sanjeev & Clements, Benedict & Baldacci, Emanuele & Mulas-Granados, Carlos, 2005. "Fiscal policy, expenditure composition, and growth in low-income countries," Journal of International Money and Finance, Elsevier, vol. 24(3), pages 441-463, April.
    3. Karine Berger & Aurélien Daubaire, 2003. "L'évolution du taux d'épargne des ménages dans quelques pays de l'OCDE une interprétation basée sur les déterminants de moyen terme," Revue d'économie politique, Dalloz, vol. 113(6), pages 829-849.

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