| Author (Person) | Rocher, Stijn, Stierle, Michael H. |
|---|---|
| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
| Publisher | Publications Office of the European Union |
| Series Title | European Economy: Discussion Papers |
| Series Details | Number 005 |
| Publication Date | 12/09/2015 |
| ISBN | 978-92-79-48680-7 |
| ISSN | 2443-8022 |
| EC | KC-BD-15-012-EN-N |
| Content Type | Research Paper |
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Summary: This paper investigates factors which may help explain the persistent differences in household saving rate across the EU, which in 2013 ranged from –10% of household income in Romania to +16% in Germany. Factors explaining changes over time or forecasting of household savings fall out of the scope of this paper. First, we argue that caution is needed when comparing household saving rates across countries. Institutional differences and data reliability are likely to hinder the international comparability of saving rates. Second, we discuss various determinants of household saving behaviour. We find that traditional explanatory variables like income levels, age dependency and uncertainty can explain more than half of the cross section variance in saving rates. However, large unobserved country fixed effects (e.g. because of institutional differences and measurement error) appear to be present. |
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| Source Link |
Link to Main Source
https://ec.europa.eu/info/publications/economy-finance/household-saving-rates-eu-why-do-they-differ-so-much_en
Alternative sources
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| Subject Categories | Economic and Financial Affairs |
| Keywords | Household Saving Rate |
| Countries / Regions | Europe |
| International Organisations | European Union [EU] |
