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Household Saving in the U.S

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Author Info
Avery, Robert B
Kennickell, Arthur B
Abstract

In this paper the authors present evidence on household saving in the U.S. based on the panel data from the 1983 and 1986 waves of the Survey of Consumer Finances. Saving is measured in these surveys as the change in wealth over the three-year period. Using a variety of models, they are able to explain only about 7 percent of the variation in the level of saving. Demographic factors appear to be modestly useful in explaining saving. However, one fact is very clear from the patterns of correlation extracted so far: either the measurement error in the data is quite large, or idiosyncratic factors are very important in explaining saving behavior, or both. Copyright 1991 by The International Association for Research in Income and Wealth.

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Publisher Info
Article provided by Blackwell Publishing in its journal Review of Income & Wealth.

Volume (Year): 37 (1991)
Issue (Month): 4 (December)
Pages: 409-32
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Handle: RePEc:bla:revinw:v:37:y:1991:i:4:p:409-32

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  3. Cevdet Denizer & Holger C. Wolf, 1998. "Household Savings in Transition Economies," NBER Working Papers 6457, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Michael Hurd & Arie Kapteyn, 2003. "Health, Wealth, and the Role of Institutions," Working Papers 03-09, RAND Corporation Publications Department. [Downloadable!]
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  5. Denizer, Cevdet & Wolf, Holger C. & Ying, Yvonne, 2000. "Household savings in transition economies," Policy Research Working Paper Series 2299, The World Bank. [Downloadable!]
  6. Lopez, Fernando Lera, 1999. "Recent decline in family savings rate: possible Explanations," ERSA conference papers ersa99pa098, European Regional Science Association. [Downloadable!]
  7. John Laitner & F. Thomas Juster, 1993. "New evidence on altruism: a study of TIAA-CREF retirees," Discussion Paper / Institute for Empirical Macroeconomics 86, Federal Reserve Bank of Minneapolis. [Downloadable!]
  8. David W. Campbell, 1999. "Explaining Japan's Saving Rate," Macroeconomics 9902004, EconWPA. [Downloadable!]
  9. F. Thomas Juster & James P. Smith & Frank Stafford, 2004. "The Measurement and Structure of Household Wealth," Labor and Demography 0402009, EconWPA. [Downloadable!]
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  10. Annamaria Lusardi, 2002. "Saving Viewed from a Cross-National Perspective," MEA discussion paper series 02024, Mannheim Research Institute for the Economics of Aging (MEA), University of Mannheim. [Downloadable!]
  11. Andrea Butelmann & Francisco Gallego, 2001. "Estimaciones de los Determinantes del Ahorro Voluntario de los Hogares en Chile (1988 Y 1997)," Working Papers Central Bank of Chile 97, Central Bank of Chile. [Downloadable!]
  12. Annamaria Lusardi, 2002. "Saving Viewed from a Cross-National Perspective," MEA discussion paper series 02024, Mannheim Research Institute for the Economics of Aging (MEA), University of Mannheim. [Downloadable!]
  13. Tim Fry & Sandra Mihajilo & Roslyn Russell & Robert Brooks, 2008. "The Factors Influencing Saving in a Matched Savings Program: Goals, Knowledge of Payment Instruments, and Other Behavior," Journal of Family and Economic Issues, Springer, vol. 29(2), pages 234-250, June. [Downloadable!] (restricted)
  14. Andrea Butelmann & Francisco Gallego, 2001. "Household Saving in Chile (1988 and 1997): Testing the Life Cycle Hypothesis," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 38(113), pages 3-48. [Downloadable!]
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