Heightened uncertainty promoted precautionary savings post-crisis, says IMF paper

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The sharp increase in household saving experienced during the recent financial crisis can be attributed to the precautionary savings motives, according to an International Monetary Fund paper published in February.

Ashoka Mody, Franziska Ohnsorge and Damiano Sandri, the paper's authors, undertake a cross-country analysis of savings in Canada, Germany, UK, US, Japan, Italy and France to investigate the macroeconomic relevance of precautionary motives for household saving rates. The authors say

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