World Savings An International Survey

World Savings is the first book to analyse both theoretically and empirically, the imbalance in worldwide savings rates. Why is the savings rate in Japan so much higher than in the US? For what reasons does savings behavior in Europe fall between these twoo extremes? These basic questions are tackled by experts from throughout the world in a series of wide-ranging surveys. Following an introduction by Nobel Laureate F. Modigliani, the theoretical background is provided at the macroeconomic level by W. H. Buiter and at the microeconomic level by B. Kauffmann. In addition, J. Owens provides an economic analysis of savings and taxation. The empirical insights are presented by L. J. Lau for the United States, C. Y. Horioka for Japan, J.-P. Fitoussi for Europe and B.W. Ickes for eastern Europe. The concluding chapter, written by the Dutch Central Bankers, W.F. Duisenberg and A. H. E. M. Wellink, analyses the relevant taxation issues and offers an outline of a worldwide savings policy. The book will be essential reading for policy makers and professional economists working in macroeconomics, monetary economics and public finance. World Savings published in association with the Dutch Savings Banks Association.