Article1991

HOUSEHOLD SAVING IN THE U.S.

119 citations0/0 files storedReview of Income and Wealth

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Abstract

In this paper the authors present evidence on household saving in the U.S. based on the panel data from the 1983 and 1986 waves of the Survey of Consumer Finances. Saving is measured in these surveys as the change in wealth over the three‐year period. Using a variety of models, we are able to explain only about 7 percent of the variation in the level of saving. Demographic factors appear to be modestly useful in explaining saving. However, one fact is very clear from the patterns of correlation extracted so far: either the measurement error in the data is quite large, or idiosyncratic factors are very important in explaining saving behavior, or both.

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1997Using Expectations Data to Study Subjective Income Expectations 1999The measurement and structure of household wealth 1997INCOME AND WEALTH OVER THE LIFE CYCLE EVIDENCE FROM PANEL DATA 2010Which Households Think They Save?2006The Effect of Self-Control Mechanisms on Household Saving Behavior 1996The Effect of Interest-Rate Changes on Household Saving and Consumption: A Survey 1996DIFFERENCES IN HOUSEHOLD SAVINGS BEHAVIOR: EVIDENCE FROM INDUSTRIAL AND DEVELOPING COUNTRIES 2012I Do … Want to Save: Marriage and Retirement Savings in Young Households

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