IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Selected Aspects of Household Savings in Germany: Evidence from Micro-Data

  • Christina Kolerus
  • Isabell Koske
  • Felix Hüfner

This paper uses household level data from the German Socio-Economic Panel (GSOEP) over the period 1991 to 2008 to analyse the driving factors of movements in the German household savings rate. Specifically, it analyses the impact of the precautionary savings motive and the impact of the 2002 private pension reform (the so-called Riester reform) on households’ savings rate as these factors are among the most discussed in the German context. There is evidence for both factors at work: First, households with a more volatile income stream tend to save more and the extent to which they do depends on their (subjectively assessed) risk aversion. Second, the introduction of the Riester pension scheme in 2002 was associated with a general increase in the household savings rate, both for households that signed up for private pension contracts and for those that did not. This effect is not found for low-income households, thus confirming the findings of other studies. Principaux aspects de l'épargne des ménages en Allemagne : indications fournies par les microdonnées Ce document s’appuie sur des données recueillies auprès des ménages par le German Socio-Economic Panel (GSOEP) sur la période 1991-2008 afin d’analyser les déterminants des variations du taux d’épargne des ménages allemands. Il analyse en particulier l’impact du désir d’épargne de précaution et l'impact de la réforme des retraites privées de 2002 (« réforme Riester ») sur le taux d’épargne des ménages, ces facteurs étant parmi ceux qui présentent le plus d’intérêt dans le cas de l’Allemagne. Il apparaît que ces deux éléments jouent un rôle : En premier lieu, les ménages dont le revenu est plutôt irrégulier épargnent généralement plus et ce, en fonction de leur degré d’aversion au risque (évalué subjectivement). En second lieu, la mise en place du régime de retraite Riester en 2002 s’est accompagnée d’une hausse générale du taux d’épargne des ménages, aussi bien pour les signataires de contrats de retraite privés que pour les autres. Cet effet n’apparaît pas pour les ménages à faible revenu, ce qui confirme les résultats des autres études.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Our checks indicate that this address may not be valid because: 403 Forbidden ( [303 See Other]--> If this is indeed the case, please notify ()

Download Restriction: no

Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 999.

in new window

Date of creation: 20 Nov 2012
Date of revision:
Handle: RePEc:oec:ecoaaa:999-en
Contact details of provider: Postal: 2 rue Andre Pascal, 75775 Paris Cedex 16
Phone: 33-(0)-1-45 24 82 00
Fax: 33-(0)-1-45 24 85 00
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:oec:ecoaaa:999-en. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.