Italian households’ opinions on the difficulty of saving
AbstractThe paper investigates the opinions of Italian families on the advisability and the possibility of saving. The analysis was carried out using the monthly micro-data underlying the Italian consumer survey conducted by Isae up to 2010 and by Istat thereafter. The results show that in recent years there has been a sharp increase in the proportion of households that consider it appropriate to save. This appears to be closely related to their expectations about the cyclical situation, in particular unemployment, pointing to a strengthening of the precautionary motive. By contrast, since the second half of the last decade only a small number of households state that they have actually been able to save. This also seems to be linked to the structural characteristics of the household. The growing gap between the advisability and the possibility of saving is greater for the elderly and, among young people, for those living alone, renting their accommodation and working under a fixed-term employment contract. The discrepancy is greater for households that reside in the larger municipalities.
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Bibliographic InfoPaper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 147.
Date of creation: Feb 2013
Date of revision:
savings; qualitative surveys; disposable income;
Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
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- Riccardo De Bonis & Andrea Silvestrini, 2012.
"The effects of financial and real wealth on consumption: new evidence from OECD countries,"
Applied Financial Economics,
Taylor & Francis Journals, vol. 22(5), pages 409-425, March.
- Riccardo De Bonis & Andrea Silvestrini, 2010. "The Effects of Financial and Real Wealth on Consumption: New Evidence from OECD Countries," Mo.Fi.R. Working Papers 38, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
- Riccardo De Bonis & Andrea Silvestrini, 2011. "The effects of financial and real wealth on consumption: new evidence from OECD countries," Temi di discussione (Economic working papers) 837, Bank of Italy, Economic Research and International Relations Area.
- Gabriele, Stefania & Martelli, Bianca Maria & Raitano, Michele, 2009. "How dark is the night: the consumers’ mood coping with the crisis.Evidences from ISAE Consumer Survey," MPRA Paper 16289, University Library of Munich, Germany.
- Luigi Guiso & Monica Paiella & Ignazio Visco, 2005. "Do capital gains affect consumption? Estimates of wealth effects from Italian householdsÂ’ behavior," Temi di discussione (Economic working papers) 555, Bank of Italy, Economic Research and International Relations Area.
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