Why Aren't Savings Rates in Latin America Procyclical?

No 6502, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We document a striking empirical regularity: Latin American savings rates are as a rule substantially less procyclical than for OECD countries and in some cases are actually countercyclical. We build a non-representative agent intertemporal macroeconomic model that rationalizes this phenomenon as the equilibrium outcome of interaction between multiple groups that have common access to aggregate income. We conclude by suggesting that institutional reform may hold the key to improving the cyclical behavior of savings in Latin America.

JEL-codes: O40 Q33 (search for similar items in EconPapers)
Date: 1998-04
Note: IFM
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

Published as Journal of Development Economics, Vol. 57, no. 1 (October 1998): 185-199.

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Related works:
Journal Article: Why aren't savings rates in Latin America procyclical? (1998)
Working Paper: Why Aren't Savings Rates in Latin America Procyclical? (1998)
Working Paper: Why Aren't Savings Rates in Latin America Procyclical? (1998)
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