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Immigrant and Native Saving Behaviour in Australia

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  • Asadul Islam
  • Jaai Parasnis
  • Dietrich Fausten

Abstract

This paper examines whether the differences in the observed savings of immigrant and native households in Australia are related to underlying differences in observable characteristics of the two groups of households or to environmental factors. We use quantile regression and semi-parametric decomposition methods to identify the savings differential, and to isolate the factors that contribute to it. The basic finding is that while income can fully account for the observed difference in immigrant and native savings there are fundamental differences in the saving behaviour of the respective groups. Decomposition analysis suggests that the different characteristics of migrants and natives are responsible for the observed difference in savings. The results also indicate that immigrants have a tendency to save more than natives when compared to Australian-born households of similar characteristics. These findings are consistent with the observed disparities in the wealth holdings of immigrant and native-born households in Australia.

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Bibliographic Info

Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 27-10.

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Length: 32 pages
Date of creation: May 2010
Date of revision:
Handle: RePEc:mos:moswps:2010-27

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Postal: Department of Economics, Monash University, Victoria 3800, Australia
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Keywords: savings; immigrants; native-born; decomposition; Australia;

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References

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  1. Deborah A. Cobb-Clark, 2003. "Public policy and the labor market adjustment of new immigrants to Australia," Journal of Population Economics, Springer, vol. 16(4), pages 655-681, November.
  2. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2009. "The Asset Portfolios of Native-born and Foreign-born Australian Households," The Economic Record, The Economic Society of Australia, vol. 85(268), pages 46-59, 03.
  3. Catalina Amuedo-Dorantes & Susan Pozo, 2002. "Precautionary Saving by Young Immigrants and Young Natives," Southern Economic Journal, Southern Economic Association, vol. 69(1), pages 48-71, July.
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Cited by:
  1. Rob Hodgson & Jacques Poot, 2011. "New Zealand Research on the Economic Impacts of Immigration 2005-2010: Synthesis and Research Agenda," CReAM Discussion Paper Series 1104, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.

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