Sweden : Selected Issues.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. European Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2017/351

IMF Staff Country Reports

Language:

English

Physical Description:

1 online resource (36 pages)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2017.

Summary:

This Selected Issues paper analyzes the high household savings in Sweden. Preliminary evidence suggests that the large increase in savings after the financial crisis may reflect the rising cost of elder care. Econometric analysis appears to confirm anecdotal explanations that extended life expectancy and a preference for higher-quality residential care have contributed to higher savings. Further analysis using more granular data is needed to test alternative hypotheses for the rise in household savings. Anecdotal reports also indicate that parental assistance in young people’s home purchases could be behind the increased saving and serves as an additional bequest motive. Investigating this possibility would benefit significantly from household level data.

Contents:

Cover

CONTENTS

HIGH HOUSEHOLD SAVINGS IN SWEDEN

A. Introduction

B. How has Household Saving Evolved Since the Global Financial Crisis?

C. Evaluating Household Savings

D. Conclusions

References

APPENDICES

I. Fixed Effects Panel Model for Gross Saving Rates

II. Error Correction Model for the Saving Rate Excluding Pensions

RECENT WAGE MODERATION IN SWEDEN

B. Background on Swedish Wage Formation and Some Stylized Facts

C. Model Specification and Data

D. Estimation Results

E. Scenario Analysis and Comparison with Other Countries

F. Analysis of Recent Wage Moderation

G. Conclusions and Future Research

BOX

1. Sweden's System for Wage Formation

FIGURE

1. Productivity, Inflation Expectations, and Labor Market Conditions

TABLES

1. Model of Nominal Labor Compensation Growth (National Accounts)

2. Model of Nominal Wages and Salaries Growth (National Accounts).

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781484317235

1484317238

9781484329702

1484329708

OCLC:

1007840022