La statistique de la semaine Le taux d’épargne aux États-Unis La statistique de la semaine Le taux d’épargne aux États-Unis 29 novembre 2007 Christian.

Présentation au sujet: "La statistique de la semaine Le taux d’épargne aux États-Unis La statistique de la semaine Le taux d’épargne aux États-Unis 29 novembre 2007 Christian."— Transcription de la présentation:

1 La statistique de la semaine Le taux d’épargne aux États-Unis La statistique de la semaine Le taux d’épargne aux États-Unis 29 novembre 2007 Christian Deblock 29 novembre 2007 Christian Deblock 0,4 %

2 O,4 % C’est le taux d’épargne* des particuliers aux États-Unis en 2006 * En pourcentage du revenu disponible C’est le taux d’épargne* des particuliers aux États-Unis en 2006 * En pourcentage du revenu disponible

3 Évolution des taux d’épargne aux États-Unis, 1950-2006

4 Comment se comparent les États-Unis ?

5 Une épargne insuffisante, un endettement extérieur croissant …..

6 L’épargne et l’investissement aux États-Unis, 1950-2006 Source : Bureau of Economic Analysis

7 Mais les économistes du Président continuent de faire preuve d’optimisme…

8 préfèrant parler du surplus du compte capital plutôt que du déficit du compte courant…

9 et même considérer que trop épargner n’est pas toujours une bonne chose en soi … High Saving and Financial Sector Inefficiency Box 6-2: High Saving and Financial Sector Inefficiency Can a country save too much? While a higher saving level might always seem beneficial, higher saving can create costs if those savings are poorly used.Excess saving can sometimes lead to overinvestment that reduces the quality and efficiency of new capital investment and can sometimes create problems in a country ﾕ s banking system by increasing the share of non-performing loans (NPLs)(p. 136) High Saving and Financial Sector Inefficiency Box 6-2: High Saving and Financial Sector Inefficiency Can a country save too much? While a higher saving level might always seem beneficial, higher saving can create costs if those savings are poorly used.Excess saving can sometimes lead to overinvestment that reduces the quality and efficiency of new capital investment and can sometimes create problems in a country ﾕ s banking system by increasing the share of non-performing loans (NPLs)(p. 136)

10 Pour conclure que pour éliminer les déséquilibres, il faudrait : First, the United States must work to raise its domestic saving rate. Second, China and other Asian countries should reduce their excess saving through policies and reforms that promote higher domestic demand. Third, Japan, Germany, and several other large countries should reduce their supplies of excess saving by promoting higher private domestic demand and improving their economic growth performance. Finally, oil producing and exporting countries could increase their domestic investment levels. First, the United States must work to raise its domestic saving rate. Second, China and other Asian countries should reduce their excess saving through policies and reforms that promote higher domestic demand. Third, Japan, Germany, and several other large countries should reduce their supplies of excess saving by promoting higher private domestic demand and improving their economic growth performance. Finally, oil producing and exporting countries could increase their domestic investment levels.