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Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants

Author

Listed:
  • Christopher D. Carroll
  • Byung-Kun Rhee
  • Changyong Rhee

Abstract

Because efforts to explain international saving differentials using traditional economic variables have not been very successful (Bosworth, 1993), some economists have proposed that national saving differences reflect cultural differences. We attempt to test that hypothesis by using data from the US Census to examine whether immigrants to the US from high-saving countries tend to save more than immigrants from low-saving countries. While we do find highly statistically significant differences in immigrants' saving behavior by country of origin, those differences do not match up with the differences in national saving rates. In particular, immigrants from high-saving Asian countries do not save more than other immigrants.

Suggested Citation

  • Christopher D. Carroll & Byung-Kun Rhee & Changyong Rhee, 1998. "Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants," NBER Working Papers 6568, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:6568
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    References listed on IDEAS

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    1. Christopher D. Carroll, 1994. "How does Future Income Affect Current Consumption?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(1), pages 111-147.
    2. David E. Bloom & Morley Gunderson, 1991. "An Analysis of the Earnings of Canadian Immigrants," NBER Chapters, in: Immigration, Trade, and the Labor Market, pages 321-342, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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