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Savings and wealth in the UK: evidence from micro-data

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Author Info
James Banks () (Institute for Fiscal Studies and University College London)
Sarah Smith () (Institute for Fiscal Studies and Centre for Market and Public Organisation)

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Abstract

The late 1980s saw a dramatic fall in personal saving rates in Britain and the United States which attracted the attention of academics and policymakers alike. The period was also marked by a number of important structural changes, any or all of which could have had an impact on personal saving behaviour. Included among these are systematic changes in the demographic structure of the population, female labour supply, productivity growth, financial liberalisation and the degree of inequality in household incomes. These changes, coupled with the decline in personal saving, led many commentators to pronounce that the ‘baby-boom’ generation (i.e. those currently middle-aged) were not saving enough for their retirement — a concern heightened by growing fears over the future of the state pension system, given current social and political attitudes.

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Publisher Info
Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

Volume (Year): 17 (1996)
Issue (Month): 2 (January)
Pages: 37-64
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Handle: RePEc:ifs:fistud:v:17:y:1996:i:2:p:37-64

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Attanasio, Orazio P & Weber, Guglielmo, 1993. "Consumption Growth, the Interest Rate and Aggregation," Review of Economic Studies, Blackwell Publishing, vol. 60(3), pages 631-49, July. [Downloadable!] (restricted)
  2. Blundell, Richard & Browning, Martin & Meghir, Costas, 1994. "Consumer Demand and the Life-Cycle Allocation of Household Expenditures," Review of Economic Studies, Blackwell Publishing, vol. 61(1), pages 57-80, January. [Downloadable!] (restricted)
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  3. James Banks & Richard Blundell, 1993. "Household saving behaviour in the UK," IFS Working Papers W93/05, Institute for Fiscal Studies.
  4. Dilnot, Andrew & Disney, Richard & Johnson, Paul & Whitehouse, Edward, 1994. "Pensions policy in the UK: An economic analysis," MPRA Paper 10478, University Library of Munich, Germany. [Downloadable!]
  5. Hochguertel, S. & Alessie, R. & Soest, A. van, 1995. "Household Portfolio Allocation in the Netherlands : Saving Accounts versus Stocks and Bonds," Discussion Paper 24, Tilburg University, Center for Economic Research. [Downloadable!]
  6. Deaton, A. & Grosh, M., 1998. "Consumption," Papers 191, Princeton, Woodrow Wilson School - Development Studies.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. D. Leece, 1999. "Applying data visualization and knowledge discovery in databases to segment the market for risky financial assets," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 20(5), pages 267-280.
  2. Orazio P. Attanasio & Thomas DeLeire, 2002. "The Effect Of Individual Retirement Accounts On Household Consumption And National Saving," Economic Journal, Royal Economic Society, vol. 112(6), pages 504-538, July. [Downloadable!] (restricted)
  3. Sònia Muñoz, 2006. "Wealth Effects in Europe: A Tale of Two Countries (Italy and the United Kingdom)," IMF Working Papers 06/30, International Monetary Fund. [Downloadable!]
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