Household saving in times of crisis
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Authors
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Publication date
2024
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04A - Book part
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Parent work
Finance in crises. Financial management under uncertainty
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DOI of the original publication
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Volume
Issue / Number
Pages / Duration
199-217
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Publisher / Publishing institution
Springer
Place of publication / Event location
Cham
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Abstract
In times of economic uncertainty, understanding household saving behavior is of particular importance to researchers and policymakers alike. We review the recent empirical literature on household saving over the life cycle, cross-sectional determinants of saving rates, and retirement saving, focusing on studies based on high-quality administrative data. We also discuss recent evidence on similarities in economic behavior and outcomes across generations. There are some common themes. While less financially savvy and low-income households are particularly at risk of under-saving, the literature also shows surprising differences in savings rates among financially well-off households. Individuals tend to exhibit present bias and inertia in their saving and consumption behavior and are strongly influenced by their upbringing and genetic predisposition.
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ISBN
978-3-031-48070-6
978-3-031-48071-3
978-3-031-48071-3
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Language
English
Created during FHNW affiliation
Yes
Strategic action fields FHNW
Publication status
Published
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Closed
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Citation
Höchle, D., & Graef, F. (2024). Household saving in times of crisis. In T. Hüttche (Ed.), Finance in crises. Financial management under uncertainty (pp. 199–217). Springer. https://doi.org/10.1007/978-3-031-48071-3_13