Delving into the Secular Stagnation Hypothesis: A Firm-Level Analysis of the Private Sector's Excess Savings in Advanced Economies

• Published in: Comparative Economic Studies
• Main Authors: Perez Artica, Rodrigo, Brufman, Leandro, Martinez, Lisana Belén
• Format: Article in Journal/Newspaper
• Language: English
• Published: Palgrave Macmillan Ltd
• Subjects: Investment; Savings; Secular Stagnation; https://purl.org/becyt/ford/5.2; https://purl.org/becyt/ford/5; Argentina; Perez; artica
• Online Access: http://hdl.handle.net/11336/52323

We document a persistent increase in excess savings (defined as the difference between gross savings and capital formation) and a steady decline of gross capital formation in a sample of non-financial firms from developed countries. These patterns developed even before the financial breakdown of 200...