The Effects of the Saving and Banking Glut on the U.S. Economy

Alejandro Justiniano, Giorgio Primiceri, Andrea Tambalotti

NBER Working Paper No. 19635
Issued in November 2013

---- Acknowledgments ----

We would like to thank our discussants Klaus Adam, Federico Signoretti, and Martin Uribe for their useful suggestions, and Efrem Castelnuovo, Gianluca Benigno, Andrea Ferrero, Andrea Raffo and participants in several conferences and seminars for comments. Aaron Kirkman and Todd Messer provided outstanding research assistance. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Banks of Chicago or New York, nor of the Federal Reserve System, nor of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Giorgio Primiceri ----

Giorgio Primiceri is a consultant for the Federal Reserve Bank of Chicago and a research visitor at the European Central Bank.

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