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The Saving Glut of the Rich / Atif R. Mian, Ludwig Straub, Amir Sufi.
- Format:
- Book
- Author/Creator:
- Mian, Atif R.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26941.
- NBER working paper series no. w26941
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- There has been a large rise in savings by Americans in the top 1% of the income or wealth distribution over the past 40 years, which we call the saving glut of the rich. Instead of financing investment, this saving glut has been associated with dissaving by the non-rich and dissaving by the government. An unveiling of the financial sector reveals that rich households have accumulated substantial financial assets that are direct claims on U.S. government and household debt. State-level analysis shows that the rise in top income shares has been important in generating the rise in savings by the rich.
- Notes:
- Print version record
- April 2020.
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