The Impact Of Deficits On Interest Rates Savings Investment And The Dollar

Papers by leading researchers consider such questions as the effect of government debt on interest rates; technology shocks, demand shocks, and output volatility; and procyclical macroeconomic policies in developing countries.

Concern about the low U.S. saving rate and its negative impact on capital formation and economic growth prompted the American Council for Capital Formation (ACCF) Center for Policy Research to launch a multifaceted, three-year project to explore this issue in 1988. This volume is one element of that project. This book contains slightly updated versions of the papers presented at a two-and-one-half-day conference entitled Saving: The Challenge for the U.S. Economy, held in Washington, D.C., in October 1989.