English, Article, Journal or magazine article edition: The Impact of Increased Government Saving on the Economy R. Herd

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Bookmark: http://trove.nla.gov.au/version/136119
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Impact of Increased Government Saving on the Economy
Author
  • R. Herd
Physical Description
  • preprint
Notes
  • An increase in long-term economic growth requires higher investment in the OECD economies if it is to be achieved, otherwise faster growth will generate unsustainable pressure on resources. Higher investment can only occur if there is higher saving which could perhaps be generated by an increase in public sector saving. This paper looks at the consequences for five major economies of the OECD of a continued reduction in government deficits, or increase in surpluses, using the OECD econometric model. The conclusion of the paper is that using conventional economic relationships, a fall in government expenditure should increase national savings and lead to higher private sector investment. Over the longer term, the higher investment will raise the actual and potential output level of the economy -- more than compensating for the lower short-term level of output associated with the cuts in government expenditure ... Si à long terme on parvenait à accroître la croissance économique, cela nécessiterait une augmentation de l'investissement dans les économies de l'OCDE, dans le cas contraire une croissance plus rapide entrainerait des pressions sur les ressources. Il ne peut y avoir accroissement de l'investissement que s'il y a augmentation de l'épargne, celle-ci pouvant peut-être être générée par une hausse de l'épargne du secteur public. Le document montre les conséquences pour cinq des principales économies de l'OCDE d'une réduction des dépenses publiques ou d'un accroissement des exédents budgétaires en utilisant le modéle économétrique de l'OCDE. La conclusion de ce rapport est qu'en utilisant les relations économiques traditionnelles, une baisse des dépenses publiques augmenterait l'épargne nationale et conduirait à un accroissement de l'investissement du secteur privé. A long terme, l'accroissement de l'investissement augmenterait le niveau de la production réelle et potentielle ce dernier ...
  • RePEc:oec:ecoaaa:68-en
Language
  • English
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