八卦爆料

Lance Taylor provides a second and final response to Andrew Smithers’ criticism of his working paper on the role of the “Global Savings Glut”

Lance Taylor responds to Andrew Smithers’s comment on his INET working paper, “Germany and China Have Savings Gluts, the USA Is a Sump: So What?”

A 鈥済lobal saving glut鈥� was invented by Ben Bernanke in 2005 as a label for positive net lending (imports exceeding exports) to the American economy by the rest of the world. However, there is a more plausible explanation for the persistent trade imbalance between the US and its major trading partners.

An alternative look at the “global savings glut”