What Determines the Saving Behavior of German Households? An Examination of Saving Motives and Saving Decisions


Schunk, Daniel


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URL: https://ub-madoc.bib.uni-mannheim.de/1562
URN: urn:nbn:de:bsz:180-madoc-15622
Document Type: Working paper
Year of publication: 2007
The title of a journal, publication series: MEA Discussion Papers
Volume: 124
Place of publication: Mannheim
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Veröffentlichungen des MEA (Mannheim Research Institute For the Economics of Aging) > MEA Discussion Papers
Subject: 300 Social sciences, sociology, anthropology
Classification: JEL: D12 E21 D91 ,
Subject headings (SWD): Sparen , Haushalt , Schätzung , Deutschland
Abstract: Many motives for saving a portion of one’s income co-exist and their relative importance changes over the life-cycle. However, most existing work focuses on only one of those motives and makes simplifying assumptions about the other motives so that they can be relegated to the background. All the more it is important to investigate heterogeneity in saving behavior in the presence of various co-existing saving motives. This paper is concerned with linking heterogeneity in German households’ savings decisions to four coexisting aving motives. First, I find that the importance that households attach to the saving motives is related to how much households save at different life stages. Second, I classify the saver type of the households based on whether they engage in regular savings plans, or rather save irregularly and without a savings plan and I find that saving motives are related to the saver type of the household. The results show that heterogeneity in saving behavior along two dimensions – with respect to the saving rate and the saver type – is systematically related to the importance that households attach to different saving motives. This suggests that policy reforms that change the importance of certain saving motives in the eyes of private households might alter household saving behavior in various ways.
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Schunk, Daniel (2007) What Determines the Saving Behavior of German Households? An Examination of Saving Motives and Saving Decisions. Open Access MEA Discussion Papers Mannheim 124 [Working paper]
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