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A Cohort Analysis of Household Saving in Norway

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Are there generational differences in saving behavior? On the basis of new micro data for household saving in Norway I find that differences between birth cohorts are small and statistically insignificant. In particular, cohort effects are small compared to the strong positive effect of aging on saving. Furthermore, within the framework of a life-cycle model, a generation that is characterized as being particularly patient or prudent will save more while young and less while old, a result that goes against the intuition that the current old save much because they belong to a generation with preferences for high saving. To ensure that the empirical findings are robust, a variety of econometric specifications and techniques are employed.

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  • Elin Halvorsen, 2003. "A Cohort Analysis of Household Saving in Norway," Discussion Papers 354, Statistics Norway, Research Department.
    • Handle: RePEc:ssb:dispap:354
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    2. Dilyara Ibragimova, 2014. "Consumer Expectations Of Russian Populations: Cohort Analysis (1996–2009)," HSE Working papers WP BRP 41/SOC/2014, National Research University Higher School of Economics.
    3. José A. Camacho & Manuel Hernández-Peinado, 2008. "Family, life cycle and consumption of services: the Spanish case," The Service Industries Journal, Taylor & Francis Journals, vol. 29(9), pages 1293-1310, January.

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    More about this item

    Keywords

    Life-cycle models and saving; age; period and cohort effects; robust estimation;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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