Household Saving in Poland
The author estimates determinants of household saving in Poland in years 1994.1997. It turns out that the household saving rate depends strongly on household income. However, the household saving function from disposable income is not strictly linear. It "kinks" upwards at the point where household income is 1.5 times higher than the average income. The saving profiles of households in Poland partially resemble those that would follow from the life cycle theory. The ratio of beneficiares to contribution payers in Poland is 2.5 times higher than the ratio of population of retirement age to economically active people and 1.5 higher than the ratio of average retirement lifetime to average working lifetime. Such a situation gives rise to very high costs of the former pay-as-you-go (PAYG) system in comparison to fully funded systems. The author compares model costs of both systems over the horizon of next 30.40 years and forecasts an equalisation of the above ratios by about 2030. The impact of the pension system reform on savings will depend on many counteracting factors.
|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: Aleja Jana Pawla II, 61, 01-031 Warsaw|
Phone: +48 22 206 29 00
Fax: +48 22 206 29 01
Web page: http://www.case-research.eu/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Orazio Attanasio & James Banks, 1998. "Trends in household saving: a tale of two countries," IFS Working Papers W98/15, Institute for Fiscal Studies.
- Denizer, Cevdet & Wolf, Holger C. & Ying, Yvonne, 2000.
"Household savings in transition economies,"
Policy Research Working Paper Series
2299, The World Bank.
- Schmidt-Hebbel, Klaus & Webb, Steven B. & Corsetti, Giancarlo, 1991.
"Household saving in developing countries : first cross-country evidence,"
Policy Research Working Paper Series
575, The World Bank.
- Schmidt-Hebbel, Klaus & Webb, Steven B & Corsetti, Giancarlo, 1992. "Household Saving in Developing Countries: First Cross-Country Evidence," World Bank Economic Review, World Bank Group, vol. 6(3), pages 529-47, September.
- Patrick Honohan, 1995. "The Impact of Financial and Fiscal Policies on Saving," Papers WP059, Economic and Social Research Institute (ESRI).
- Barbara Liberda & Tomasz Tokarski, 1999. "Determinates of Savings and Economic Growth in Poland in Comparison to the OECD Countries," CASE-CEU Working Papers 0024, CASE-Center for Social and Economic Research.
- Christopher D. Carroll, 1998.
"Why Do the Rich Save So Much?,"
NBER Working Papers
6549, National Bureau of Economic Research, Inc.
- Mark Huggett & Gustavo Ventura, 1997.
"Understanding Why High Income Households Save More Than Low Income Households,"
9701, Centro de Investigacion Economica, ITAM.
- Huggett, Mark & Ventura, Gustavo, 2000. "Understanding why high income households save more than low income households," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 361-397, April.
- Mark Huggett & Gustavo Ventura, 1995. "Understanding why high income households save more than low income households," Discussion Paper / Institute for Empirical Macroeconomics 106, Federal Reserve Bank of Minneapolis.
When requesting a correction, please mention this item's handle: RePEc:sec:cnstan:0187. 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: (Agata Kwiek)
If references are entirely missing, you can add them using this form.