National Accounts at a Glance - NAAG

Data - OECD

Author

François Geerolf

Info

source dataset Title Updated
oecd NAAG National Accounts at a Glance - NAAG 2026-08-02

Data on saving

source dataset Title Updated
bdf CFT Comptes Financiers Trimestriels 2026-08-10
bea T50100 Table 5.1. Saving and Investment by Sector (A) (Q) 2026-08-13
fred saving Saving - saving 2026-08-13
oecd NAAG National Accounts at a Glance - NAAG 2026-08-02
wdi NY.GDS.TOTL.ZS Gross domestic savings (% of GDP) - NY.GDS.TOTL.ZS 2026-08-13
wdi NY.GNS.ICTR.ZS Gross savings (% of GDP) - NY.GNS.ICTR.ZS 2026-08-13

LAST_COMPILE

LAST_COMPILE
2026-08-15

Last

TIME_PERIOD Nobs
2025 203

REF_AREA

Code 
NAAG |>
  left_join(NAAG_var$LOCATION, by = c("REF_AREA" = "LOCATION")) |>
  group_by(REF_AREA, Location) |>
  summarise(Nobs = n()) |>
  mutate(Flag = gsub(" ", "-", str_to_lower(gsub(" ", "-", Location))),
         Flag = paste0('<img src="../../icon/flag/vsmall/', Flag, '.png" alt="Flag">')) |>
  select(Flag, everything()) %>%
  {if (is_html_output()) datatable(., filter = 'top', rownames = F, escape = F) else .}

Gross debt of general government, percentage of GDP - DBTS13GDP

France, Germany, United States, Italy

Code 
NAAG |>
  filter(REF_AREA %in% c("FRA", "ITA", "USA", "DEU"),
         INDICATOR == "DBTS13GDP") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  group_by(REF_AREA) |>
  arrange(date) |>
  select(date, REF_AREA, Location, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  mutate(color = ifelse(REF_AREA == "USA", color2, color)) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  theme_minimal() + xlab("") + ylab("Gross debt of general government, % of GDP") +
  scale_color_identity() + add_4flags +
  scale_x_date(breaks = seq(1995, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 400, 10),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.5, 0.90),
        legend.title = element_blank(),
        legend.direction = "horizontal")

B6NS14_S15DEF - Real household net disposable income, deflated by household Final consumption, millions of national currency

Italy, Spain, France, Germany

1995-

Code 
NAAG |>
  filter(INDICATOR == "B6NS14_S15DEF", 
         REF_AREA %in% c("ITA", "ESP", "FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  filter(date >= as.Date("1995-01-01")) |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  group_by(Location) |>
  mutate(obsValue = 100*100*obsValue/obsValue[1]) |>
  ggplot() + geom_line(aes(x = date, y = obsValue/100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = seq(100, 2000, 10)) +
  ylab("Real household net disposable income") + xlab("")

1999-

Code 
NAAG |>
  filter(INDICATOR == "B6NS14_S15DEF", 
         REF_AREA %in% c("ITA", "ESP", "FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  filter(date >= as.Date("1999-01-01")) |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  group_by(Location) |>
  mutate(obsValue = 100*100*obsValue/obsValue[1]) |>
  ggplot() + geom_line(aes(x = date, y = obsValue/100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1999, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = seq(10, 2000, 5)) +
  ylab("Real household net disposable income") + xlab("")

B8NS14_S15SB6NS14 - Net household saving, percentage of households net disposable income

Italy, Spain, France, Germany

Code 
NAAG |>
  filter(INDICATOR == "B8NS14_S15SB6NS14", 
         REF_AREA %in% c("ITA", "ESP", "FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 40, 2),
                     labels = scales::percent_format(accuracy = 1)) +
  ylab("Net household saving (% of household NDI)") + xlab("")

Net Saving - B8NS

With Germany, Frugal Four: Austria, Denmark, the Netherlands and Sweden

Code 
NAAG |>
  filter(INDICATOR == "B8NS", 
         REF_AREA %in% c("AUT", "DNK", "NLD", "SWE", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_5flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 40, 2),
                     labels = scales::percent_format(accuracy = 1)) +
  ylab("Net Saving (% of GDP)") + xlab("")

Frugal Four: Austria, Denmark, the Netherlands and Sweden

Code 
NAAG |>
  filter(INDICATOR == "B8NS", 
         REF_AREA %in% c("AUT", "DNK", "NLD", "SWE")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 40, 2),
                     labels = scales::percent_format(accuracy = 1)) +
  ylab("Net Saving (% of GDP)") + xlab("")

Italy, Spain, France, Germany

Code 
NAAG |>
  filter(INDICATOR == "B8NS", 
         REF_AREA %in% c("ITA", "ESP", "FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 40, 2),
                     labels = scales::percent_format(accuracy = 1)) +
  ylab("Net Saving (% of GDP)") + xlab("")

Net Saving of General Government - B8NS13S

With Germany, Frugal Four: Austria, Denmark, the Netherlands and Sweden

Code 
NAAG |>
  filter(INDICATOR == "B8NS13S", 
         REF_AREA %in% c("AUT", "DNK", "NLD", "SWE", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_5flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 16, 1),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("Net Lending, General Government (% of GDP)") + xlab("")

Frugal Four: Austria, Denmark, the Netherlands and Sweden

Code 
NAAG |>
  filter(INDICATOR == "B8NS13S", 
         REF_AREA %in% c("AUT", "DNK", "NLD", "SWE")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 16, 1),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("Net Lending, General Government (% of GDP)") + xlab("")

Italy, Spain, France, Germany

Code 
NAAG |>
  filter(INDICATOR == "B8NS13S", 
         REF_AREA %in% c("ITA", "ESP", "FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  year_to_date() |>
  select(Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 16, 1),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("Net Lending, General Government (% of GDP)") + xlab("")

Terms of Trade - TOT

All

Code 
NAAG |>
  filter(REF_AREA %in% c("FRA", "ITA", "DEU", "PRT"),
         INDICATOR == "TOT") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION, by = c("REF_AREA" = "LOCATION")) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  theme_minimal() + xlab("") + ylab("Terms of Trade") + 
  scale_color_identity() + add_4flags +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 400, 10),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.5, 0.90),
        legend.title = element_blank(),
        legend.direction = "horizontal")

Household Debt (% of PDI)

All

Code 
NAAG |>
  filter(REF_AREA %in% c("FRA", "ITA", "DEU", "PRT"),
         INDICATOR == "DBTS14_S15NDI") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  group_by(REF_AREA) |>
  arrange(date) |>
  select(date, REF_AREA, Location, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  theme_minimal() + xlab("") + ylab("Household Debt, % of NDI") +
  scale_color_identity() + add_4flags +
  scale_x_date(breaks = seq(1960, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 400, 10),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.5, 0.90),
        legend.title = element_blank(),
        legend.direction = "horizontal")

2009-2019

Code 
NAAG |>
  year_to_date() |>
  filter(REF_AREA %in% c("FRA", "ITA", "DEU", "PRT"),
         INDICATOR == "DBTS14_S15NDI",
         date >= as.Date("2008-01-01")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  group_by(REF_AREA) |>
  arrange(date) |>
  select(date, REF_AREA, Location, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Household Debt, % of NDI") +
  scale_x_date(breaks = seq(1960, 2100, 1) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 400, 10),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.5, 0.90),
        legend.title = element_blank(),
        legend.direction = "horizontal")

France, Germany

Net Saving - Total

(ref:B8NS-FRA-DEU) Net saving , TOTAL (% of GDP)

Code 
NAAG |>
  filter(INDICATOR == "B8NS", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-7, 30, 2),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("Net Saving, Total (% of GDP)") + xlab("")

(ref:B8NS-FRA-DEU)

Net Saving of General Government

(ref:B8NS13S-FRA-DEU) Net saving of General Government (% of GDP)

Code 
NAAG |>
  filter(INDICATOR == "B8NS13S", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(-7, 16, 0.5),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("Net Lending, General Government (% of GDP)") + xlab("")

(ref:B8NS13S-FRA-DEU)

Corporate Saving

(ref:B9S14-S15S-FRA-DEU) Corporate Saving

Code 
NAAG |>
  filter(INDICATOR == "B9S14_S15S", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(-7, 16, 0.5),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("Net lending/net borrowing, Households and NPISHs") + xlab("")

(ref:B9S14-S15S-FRA-DEU)

Net Lending / Net Borrowing - Total Economy

(ref:B9S1S-FRA-DEU) Net lending/net borrowing, Total economy

Code 
NAAG |>
  filter(INDICATOR == "B9S1S", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(-7, 16, 0.5),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("% of GDP") + xlab("")

(ref:B9S1S-FRA-DEU)

Net lending/net borrowing, Corporations

(ref:B9S11-S12S-FRA-DEU) Net lending/net borrowing, Corporations

Code 
NAAG |>
  filter(INDICATOR == "B9S11_S12S", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(-7, 16, 0.5),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("% of GDP") + xlab("")

(ref:B9S11-S12S-FRA-DEU)

Total net worth of households

Code 
NAAG |>
  filter(INDICATOR == "TOTNETWORTHS14_S15NDI", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(0, 900, 20),
                     labels = scales::percent_format(accuracy = 1)) +
  ylab("% of Disposable Income") + xlab("")

Household housing consumption, percentage of households net adjusted disposable income

Code 
NAAG |>
  filter(INDICATOR == "P040B7NS14_S15", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(-7, 25, 0.5),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("% of GDP") + xlab("")

Household savings (% of household disposable income)

Code 
NAAG |>
  filter(INDICATOR == "B8NS14_S15SB6NS14", 
         REF_AREA %in% c("FRA", "DEU")) |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(NAAG_var$INDICATOR,  by = "INDICATOR") |>
  year_to_date() |>
  filter(year(date) >= 1990) |>
  arrange(Location) |>
  select(Indicator, Location, date, obsValue) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_2flags + theme_minimal() +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  theme(legend.position = c(0.1, 0.9),
        legend.title = element_blank()) +
  scale_y_continuous(breaks = 0.01*seq(-7, 16, 0.5),
                     labels = scales::percent_format(accuracy = 0.1)) +
  ylab("% of GDP") + xlab("")

France, Germany, Japan, United States

Net Saving Rate (% of GDP)

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "B8NS") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  group_by(REF_AREA) |>
  arrange(date) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Net saving rate, % of GDP") +
  geom_rect(data = nber_recessions_extract, 
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-10, 50, 2),
                     labels = percent_format(accuracy = 1))

Net saving of General Government (% of GDP)

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "B8NS13S") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  group_by(REF_AREA) |>
  arrange(date) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Net saving of General Government, % of GDP") +
  geom_rect(data = nber_recessions_extract, 
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-20, 50, 1),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.4, 0.15),
        legend.title = element_blank(),
        legend.direction = "horizontal")

Net lending/net borrowing, Corporations, percentage of GDP (% of GDP)

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "B9S11_S12S") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Net lending, Corporations, % of GDP") +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-20, 50, 1),
                     labels = percent_format(accuracy = 1)) +
  geom_rect(data = nber_recessions_extract, 
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  theme(legend.position = c(0.3, 0.90),
        legend.title = element_blank(),
        legend.direction = "horizontal")

Net household saving, % of households net disposable income

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "B8NS14_S15SB6NS14") |>
  year_to_date() |>
  left_join(NAAG_var$LOCATION,  by = c("REF_AREA" = "LOCATION")) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Net household saving, % of households NDI") +
  geom_rect(data = nber_recessions_extract,
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-20, 50, 1),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.4, 0.10),
        legend.title = element_blank(),
        legend.direction = "horizontal")

Gross fixed capital formation, % of GDP

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "P51S") |>
  year_to_date() |>
  mutate(value = obsValue / 100) |>
  left_join(NAAG_var$LOCATION, by = c("REF_AREA" = "LOCATION")) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Gross fixed capital formation (% of GDP)") +
  geom_rect(data = nber_recessions_extract, 
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-20, 50, 2),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.8, 0.80),
        legend.title = element_blank())

Net lending/net borrowing, Total economy, % of GDP

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "B9S1S") |>
  year_to_date() |>
  mutate(value = obsValue / 100) |>
  left_join(NAAG_var$LOCATION, by = c("REF_AREA" = "LOCATION")) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Net lending, Total economy, % of GDP") +
  geom_rect(data = nber_recessions_extract, 
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-20, 50, 1),
                     labels = percent_format(accuracy = 1)) +
  theme(legend.position = c(0.2, 0.80),
        legend.title = element_blank())

Transport Equipment (% of total GFCF)

Code 
nber_recessions_extract <- nber_recessions |>
  filter(Peak >= as.Date("1970-01-01"))
NAAG |>
  filter(REF_AREA %in% c("FRA", "USA", "DEU", "JPN"),
         INDICATOR == "P51N11131SP51") |>
  year_to_date() |>
  mutate(value = obsValue / 100) |>
  left_join(NAAG_var$LOCATION, by = c("REF_AREA" = "LOCATION")) |>
  left_join(colors, by = c("Location" = "country")) |>
  ggplot() + geom_line(aes(x = date, y = obsValue / 100, color = color)) + 
  scale_color_identity() + add_4flags +
  theme_minimal() + xlab("") + ylab("Transport equipment, % of total GFCF") +
  geom_rect(data = nber_recessions_extract, 
            aes(xmin = Peak, xmax = Trough, ymin = -Inf, ymax = +Inf), 
            fill = 'grey', alpha = 0.5) +
  scale_x_date(breaks = seq(1960, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(0, 50, 1),
                     labels = percent_format(accuracy = 1))