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Household Wealth and Saving in New Zealand: Evidence from the Longitudinal Survey of Family, Income and Employment

Author

Listed:
  • Le, Trinh
  • Gibson, John
  • Stillman, Steven

Abstract

This paper uses data from the Survey of Family, Income and Employment (SoFIE) to estimate household saving in New Zealand between 2004-2006. Comprehensive data on wealth is collected biannually in SoFIE and we calculate household saving by examining how wealth has changed over time. We find that even the most conservative estimate of household saving was at least 14% of gross income during this time period. On the other hand, the indirectly derived Household Income and Outlay Accounts (HIOA) indicate (net) household saving was -12.5% per year over the same period. We also find no evidence that capital gains in housing during this time period crowded out saving or that the composition of household wealth in New Zealand differed from that in other developed countries.

Suggested Citation

  • Le, Trinh & Gibson, John & Stillman, Steven, 2010. "Household Wealth and Saving in New Zealand: Evidence from the Longitudinal Survey of Family, Income and Employment," Motu Working Papers 292601, Motu Economic and Public Policy Research.
    • Handle: RePEc:ags:motuwp:292601
    DOI: 10.22004/ag.econ.292601
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    Cited by:

    1. is not listed on IDEAS
    2. Ramiz Rahmanov, 2015. "Banking Sector Development and Household Saving in Emerging Eastern Europe," William Davidson Institute Working Papers Series wp1089, William Davidson Institute at the University of Michigan.
    3. David Law & Grant M. Scobie, 2018. "KiwiSaver and the accumulation of net wealth," New Zealand Economic Papers, Taylor & Francis Journals, vol. 52(1), pages 1-20, January.
    4. Rob Hodgson & Jacques Poot, 2011. "New Zealand Research on the Economic Impacts of Immigration 2005-2010: Synthesis and Research Agenda," RFBerlin Discussion Paper Series 1104, ROCKWOOL Foundation Berlin (RFBerlin).
    5. Paul Conway & Lisa Meehan & Dean Parham, 2015. "Who benefits from productivity growth? The labour income share in New Zealand," Working Papers 2015/01, New Zealand Productivity Commission.
    6. Quyen Nguyen & Paul Thorsnes & Ivan Diaz‐Rainey & Antoni Moore & Simon Cox & Leon Stirk‐Wang, 2022. "Price recovery after the flood: risk to residential property values from climate change‐related flooding," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(3), pages 532-560, July.

    More about this item

    Keywords

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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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