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Saving Rates Through Crisis — How Recessions, Pandemics and Booms Reshape the Savings-Growth Link
How saving rates shifted during major economic crises and what it meant for recovery — the 2008 financial crisis (US saving rate spiked from ~2% to ~8%), COVID-19 (global saving rate surge from excess savings estimated at $2.1 trillion in the US alone), the Asian Financial Crisis of 1997 (forced deleveraging collapsed saving capacity), and Europe's sovereign debt crisis. Examines whether high savings during crises help or hurt recovery, the 'paradox of thrift' in practice, and how central bank policy interacts with saving behavior.
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