Publications

Policy Note 1999/1 | January 1999

How Negative Can US Saving Get?

In 1998 the volume of private spending in the United States rose by almost twice the increase in disposable income. The impact of this excess private spending financed by increased net borrowing has been profound; without it, the economy would have stagnated. Can this pattern of demand growth continue? The answer is a resounding no.

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Author(s):
Wynne Godley Bill Martin

Publication Highlight

Working Paper No. 897
Quantitative Easing and Asset Bubbles in a Stock-flow Consistent Framework
Author(s): Cameron Haas, Tai Young-Taft
September 2017

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