A Cohort Analysis Of Saving Behavior By U S Households

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A Cohort Analysis Of Saving Behavior By U S Households

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Author : Orazio Attanasio
language : en
Publisher:
Release Date : 2010

A Cohort Analysis Of Saving Behavior By U S Households written by Orazio Attanasio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

In this paper I analyze the pattern of saving behavior by U.S. households, using the Consumer Expenditure (CEX) Survey. The analysis' main goal is to explain the decline in aggregate personal saving in the United States in the 1980s. I estimate a typical' saving-age profile and identify systematic movements of the profile across different cohorts of U.S. households. In addition, I consider different definitions of saving and control for a number of factors that figure in popular explanations fo the decline in saving. The main results can be summarized as follows: 1) the typical' saving-age profile presents a pronounced hump' and peaks around age 60; 2) this typical' age profile was, at least during the 1980s, shifted down for those cohorts born between 1925 and 1939. This is consistent with the low level of aggregate saving because these cohort were, in the 1980s, in that part of their life cycle when saving is highest; 3) this results holds for various definition of saving with one notable exception; the decline is less pronounced when expenditure on durables is considered as saving; and 4) some other popular explanations of the decline in saving are rejected by the data, including those appealing to the presence of capital gains on real or financial assets.

A Cohort Analysis Of Saving Behavior By U S Households

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Author : Orazio P. Attanasio
language : en
Publisher:
Release Date : 1993

A Cohort Analysis Of Saving Behavior By U S Households written by Orazio P. Attanasio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Cohort analysis categories.

In this paper I analyze the pattern of saving behavior by U.S. households, using the Consumer Expenditure (CEX) Survey. The analysis' main goal is to explain the decline in aggregate personal saving in the United States in the 1980s. I estimate a typical' saving-age profile and identify systematic movements of the profile across different cohorts of U.S. households. In addition, I consider different definitions of saving and control for a number of factors that figure in popular explanations fo the decline in saving. The main results can be summarized as follows: 1) the typical' saving-age profile presents a pronounced hump' and peaks around age 60; 2) this typical' age profile was, at least during the 1980s, shifted down for those cohorts born between 1925 and 1939. This is consistent with the low level of aggregate saving because these cohort were, in the 1980s, in that part of their life cycle when saving is highest; 3) this results holds for various definition of saving with one notable exception; the decline is less pronounced when expenditure on durables is considered as saving; and 4) some other popular explanations of the decline in saving are rejected by the data, including those appealing to the presence of capital gains on real or financial assets.

A Cohort Analysis Od Saving Behavior By U S Households

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Author :
language : en
Publisher:
Release Date : 1993

A Cohort Analysis Od Saving Behavior By U S Households written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.

A Cohort Analysis Of Saving Behavior By Us Household

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Author : Orazio P. ATTANASIO
language : en
Publisher:
Release Date : 1993

A Cohort Analysis Of Saving Behavior By Us Household written by Orazio P. ATTANASIO and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.

A Cohort Analysis Of Savings Behavior By Us Households

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Author : Orazio Attanasio
language : en
Publisher:
Release Date : 1993

A Cohort Analysis Of Savings Behavior By Us Households written by Orazio Attanasio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Cohort analysis categories.

A Cohort Analysis Of Saving Behaviour By Us Households

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Author : Orazio P. Attanasio
language : en
Publisher:
Release Date : 1993

A Cohort Analysis Of Saving Behaviour By Us Households written by Orazio P. Attanasio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Cohort analysis categories.

Household Behavior In The Us And Japan

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Author : Kosei Fukuda
language : en
Publisher: Nova Science Publishers
Release Date : 2010

Household Behavior In The Us And Japan written by Kosei Fukuda and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Cost and standard of living categories.

Reviews several methods for cohort analysis and compares through empirical analyses and simulations.

Empirical Analysis Of Households Saving Behavior

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Author : Michael Ziegelmeyer
language : de
Publisher:
Release Date : 2011

Empirical Analysis Of Households Saving Behavior written by Michael Ziegelmeyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

Saving Behavior Of U S Households

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Author : Patricia Jo Fisher
language : en
Publisher:
Release Date : 2006

Saving Behavior Of U S Households written by Patricia Jo Fisher and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Loss aversion categories.

Abstract: The main purpose of this dissertation is to explore household saving using a prospect theory approach through the use of the loss aversion model and behavioral portfolio theory. The research begins by investigating the effect of having expected per-period income above or below the reference level as well as the effect of uncertainty on the likelihood of saving based on the loss aversion model. The focus then moves to saving motives based on the ideas of behavioral portfolio theory. The direct measure of saving available in the dataset is saving over the previous year. Saving horizon is also investigated since the saving measure is a short-term measure and some regular savers may not have saved during the past year. The dataset used is the 2004 Survey of Consumer Finances. The sample excludes retired U.S. households for a final number of 3,694 households. Having expected per-period income above the reference level increases the likelihood of saving. Having expected per-period income below the reference level is significantly and negatively related to the likelihood of saving, and has a greater effect on the likelihood of saving than having expected per-period income above the reference. The group of uncertainty variables is significant in explaining the likelihood of saving. In contrast to the theories reviewed, most of the uncertainty variables are not found to increase the likelihood of saving. Saving motives and saving horizon are significant in explaining the likelihood of saving. Saving for a foreseeable expense significantly increases the likelihood of saving in both the models with and without interaction terms. Having a motive to save for the education of children or grandchildren significantly decreases the likelihood of saving in the model without interactions, while this variable is not significant when interactions are added. Inclusion of interactions of saving horizon variables with the saving motive variables is found to be significant in explaining the likelihood of saving, indicating that saving motives do differ by saving horizon.

Saving Behavior Of U S Households In The 1980s

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Author : Y. Regina Chang
language : en
Publisher:
Release Date : 2000

Saving Behavior Of U S Households In The 1980s written by Y. Regina Chang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.

An analysis of the 1983 and 1986 Survey of Consumer Finance shows that 40% of U.S. households had a decrease in real net non-housing assets between the two survey periods. This study uses t-test, bivariate and multivariate analyses to investigate household saving behavior and identify factors related to it. Multivariate regression results show that the household's initial net non-housing asset level is the most important factor related to increases in net non- housing assets (saving.) The initial net non-housing asset level in 1983 was negatively related to saving between the two periods. Households with higher income levels had higher predicted saving than those with lower income levels. Households with a high level of risk tolerance saved more than their counterparts. Households that received windfalls between 1983 and 1986 saved a large fraction (87%) and only consumed a small fraction of the windfalls received.