persistent current account surpluses were due primarily to Japan's large and persistent IS imbalances (the excess of saving over …In this paper, I find (1) that Japan showed massive and persistent current account surpluses from at least 1981 and … until at least 2011, (2) that Professor Ronald McKinnon was correct, at least in the case of Japan, and that these large and …

persistent current account surpluses were due primarily to Japan's large and persistent IS imbalances (the excess of saving over …In this paper, I find (1) that Japan showed massive and persistent current account surpluses from at least 1981 and … until at least 2011, (2) that Professor Ronald McKinnon was correct, at least in the case of Japan, and that these large and …

We investigate for the case of Germany the positive correlation between the corporate saving glut in the non … corporate saving and the current account surplus. Household saving shocks, in contrast, cannot explain the correlation. We … conclude that the corporate saving glut, explained through these factors, is the main driver of the current account surplus. …

saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective … for the joint dynamics of excess corporate saving and the current account surplus. Household saving shocks, by contrast …, cannot explain the correlation. We conclude that, explained through these factors, the corporate saving glut is an important …

ceteris paribus mit einem Rückgang des Finanzierungssaldos der privaten Haushalte und der Leistungsbilanz einhergeht. Dieser … Unternehmenssektors zu einem Anstieg der Leistungsbilanz, d.h. der Unternehmensschleier (corporate veil) beeinflusst das Sparverhalten der …

This paper explores, from an investment-saving perspective, the factors underlying the persistent widening of the …

distortions. I document major trends in aggregate savings, investment, trade, and net foreign asset positions in China, and …. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded …

saving-investment balance. The results show that budget deficit, economic growth, FDI and financial intermediation are the …

We investigate for Germany the positive correlation between the corporate savings glut in the non-financial corporate … corporate savings and the current account surplus. Private savings shocks, in contrast, cannot explain the correlation. We … conclude that a corporate savings glut is a main driver of the current account surplus. …