Do Wealthier Households Save More? The Impact of the Demographic Factor

Abstract

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Does the retirement saving motive foster higher savings? The evidence from the Polish household survey

“…Compared to the reference age category (71+), generally younger respondents are willing to have lower savings. It supports the view presented in some previous empirical studies that older individuals rather tend to continue savings instead of consuming them, contrary to the theoretical premises (Alessie et al, 1999;Belke et al, 2015;van Ooijen, Alessie, & Kalwij, 2015). However, these results are ambiguous, as they are mixed across all three models.…”

“…Also many empirical studies conducted using household survey data prove that income is a significant source of household heterogeneity with reference to savings and that the relationship between these two variables is positive (see e.g. Belke, Dreger, & Ochmann, 2015;Dynan, Skinner, & Zeldes, 2004;Guariglia, 2001;Lersch, 2014).…”

Long Term Growth Perspectives in Japan and the Euro Area

“…The impact of on aging society on the savings rate is unclear at the euro area level, and even an increase in the savings rate can result. Evidence based on German household surveys suggests that the savings rate strongly responds to demographic trends (Belke, Dreger and Ochmann, 2015). While there is a direct impact arising from of the age structure, an indirect effect will be relevant through the accumulation of real estate and financial wealth.…”

Capital's Grabbing Hand? A Cross-Country/Cross-Industry Analysis of the Decline of the Labour Share

“…Moreover, the shift of income away from labour (and, in particular, away from low-wage workers) towards capital (and top earners) might also have a negative impact on aggregate demand, to the extent that workers with below-average pay tend to have a higher consumption propensity than do top earners and capitalists (see e.g. Belke et al, 2012). This paper takes another look at possible determinants of the decline of the labour share.…”