Empirical Determinants of Household Saving: Evidence From OECD Countries

Callen, Tim; Thimann, Christian

doi:10.5089/9781451859157.001

Cited by 80 publications

(90 citation statements)

References 10 publications

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“…Additionally, Callen and Thimann (1997) investigated factors affecting household saving based on panel dataset of 21 OECD countries. They have used fixed-effects model specification to show that public and corporate saving, growth and demographics were the most significant determinants of saving, whereas inflation, unemployment, financial deregulation and real interest rate were less important factors.…”

Section: Literature Reviewmentioning

confidence: 99%

Macroeconomic Determinants of Household Savings in Ukraine

Zhuk¹

2015

Economics &Amp; Sociology

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ABSTRACT. The article elaborates on the issue of household savings in Ukraine and investigates the most significant macroeconomic indicators that influence their formation. The research also focuses on testing the hypothesis of structural breaks in formation of household savings in Ukraine after the World financial crisis. Formation process of household savings was studied with using the econometric modeling, particularly a multiple linear regression model with an error correction term. Estimated model demonstrated adequacy, stability as well as good performance and could be used for forecasting. Our results showed that household consumption expenditures and gross national income were the most significant macroeconomic determinants of household savings in Ukraine. In contrast to expectations, hypothesis testing indicated structural break in formation of household savings in Ukraine only in 2010.

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Section: Literature Reviewmentioning

confidence: 99%

Macroeconomic Determinants of Household Savings in Ukraine

Zhuk¹

2015

Economics &Amp; Sociology

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“…Subsequent empirical tests on the impact of pension systems on household saving have produced mixed results (e.g. Edwards, 1996;Baillu and Reisen, 1997;Callen and Thimann, 1997;Corsetti, Schmidt-Hebbel, 1995, Bosworth andBurtless, 2004;and Murphy and Musalem, 2004). Sample heterogeneity, however, has made these results difficult to compare.…”

Section: Introductionmentioning

confidence: 99%

Health, pension benefits and longevity: How they affect household savings?

Freitas

Martins

2014

The Journal of the Economics of Ageing

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“…14 The government transfers to GDP ratio, on the other hand, is a countercyclical variable for which we expect a negative impact on the private savings ratio as government transfers can substitute for precautionary private savings; see e.g., Callen and Thimann (1997).…”

Section: Omitted Variablesmentioning

confidence: 99%

Business Cycle Fluctuations and Private Savings in OECD Countries: A Panel Data Analysis

Adema

Pozzi

2012

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. December 10, 2012 Terms of use: Documents in AbstractWe investigate the cyclicality of the private savings to GDP ratio for a panel of 19 OECD countries over the period . We find robust evidence that the private savings ratio is countercyclical. Three theories unambiguously predict a higher private savings ratio during recessions: a Ricardian offset effect, the presence of credit constraints, and precautionary savings. We find evidence only for the latter theory. Our estimations take into account a large number of econometric complications: persistence in the savings ratio, endogeneity of the regressors, crosscountry parameter heterogeneity, cross-sectional dependence, stationarity issues, omitted variables, and instrument strength.JEL Classification: C23, E21, E32

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Empirical Determinants of Household Saving: Evidence From OECD Countries

Cited by 80 publications

References 10 publications

Macroeconomic Determinants of Household Savings in Ukraine

Macroeconomic Determinants of Household Savings in Ukraine

Health, pension benefits and longevity: How they affect household savings?

Business Cycle Fluctuations and Private Savings in OECD Countries: A Panel Data Analysis

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