7d) Richard Koo’s and other Sector Balances

A list of long-term sector balances and related provided by Nomura’s research institute and its chief economist Richard Koo.

 

Japan

Japan Sector Balances Richard Koo, Households, Corporations, Government, Current Account

Japan Sector Balances Richard Koo Households Corporations Government Current Account

Japan Sector Balances Richard Koo, Households, Corporations, Government, Current Account - click to enlarge. - Click to enlarge

Japan Sector Balances by Richard Koo

Japan sectoral balances, Corporate leverage, Exports and business Investment

Japan sectoral balances, Corporate leverage, Exports and business Investment

Japan sectoral balances, Corporate leverage, Exports and business Investment - click to enlarge. - Click to enlarge

Sector Balances United States by Richard Koo

Sector Balances United States, Households, Corporations, Government, Current Account

Sector Balances United States, Households, Corporations, Government, Current Account

Sector Balances United States, Households, Corporations, Government, Current Account - Click to enlarge

Sector Balances Eurozone by Richard Koo

 

Sector Balances Eurozone, Households, Corporations, Government, Current Account

Sector Balances Eurozone, Households, Corporations, Government, Current Account

Sector Balances Eurozone, Households, Corporations, Government, Current Account - click to enlarge. - Click to enlarge

Sector Balances United Kingdom by Richard Koo

Sector Balances United Kingdom, Households, Corporations, Government, Current Account

Sector Balances United Kingdom, Households, Corporations, Government, Current Account

Sector Balances United Kingdom, Households, Corporations, Government, Current Account - click to enlarge. - Click to enlarge

Sector Balances Spain by Richard Koo

Spanish Private Sector Financial Surpluses Increased more than Government Deficit

Spanish Private Sector Financial Surpluses Increased more than Government Deficit

Spanish Private Sector Financial Surpluses Increased more than Government Deficit - click to enlarge. - Click to enlarge

Sector Balances Ireland by Richard Koo

Irish Private Sector Financial Surpluses Increased more than Government Deficit

Irish Private Sector Financial Surpluses Increased more than Government Deficit

Irish Private Sector Financial Surpluses Increased more than Government Deficit - click to enlarge. - Click to enlarge

Summary of Private Savings and Government Deficits

Summary of Private Savings and Government Deficits

Summary of Private Savings and Government Deficits

Summary of Private Savings and Government Deficits - click to enlarge. - Click to enlarge

U.S. Sector Financial Balances

For comparison here the sector balances provided by the Modern Monetary Theory (MMT). Unfortunately they lack the differentation into corporate sector and households.

U.S. Sector Financial Balances as a % of GDP, 1952q1 to 2010q4

U.S. Sector Financial Balances as a % of GDP, 1952q1 to 2010q4

U.S. Sector Financial Balances as a % of GDP, 1952q1 to 2010q4 - click to enlarge. - Click to enlarge

Domestic Private Surplus, Govt Surplus

Domestic Private Surplus, Govt Surplus

Domestic Private Surplus, Govt Surplus

Domestic Private Surplus, Govt Surplus - click to enlarge. - Click to enlarge

US Sectoral Net Lending Balances

FT Alphaville provided the differentiation between households and corporates in a long-term frame:

US Sectoral Net Lending Balances

US Sectoral Net Lending Balances

US Sectoral Net Lending Balances - click to enlarge. - Click to enlarge

and interestingly also the deviation from the dedian between 1993 and 2009:

US Sector balances % of GDP; different from median since 1950

US Sector balances % of GDP; different from median since 1950

US Sector balances % of GDP; different from median since 1950 - click to enlarge. - Click to enlarge

 

 

Sources:

Vuk Vukovic

Business Insider

MMT by Stephanie Kelton

George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
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