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Empirical Determinants of Household Saving: Evidence From OECD Countries
Author:
Mr. Tim Callen
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Mr. Christian Thimann
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Series:
IMF Working Papers
Volume/Issue:
Volume 1997: Issue 181
Language:
English
Publication Date:
01 Dec 1997
DOI:
https://doi.org/10.5089/9781451859157.001
ISBN:
9781451859157
ISSN:
1018-5941
Pages:
26
Keywords:
WP; household saving; high-saving age groups; saving decision change; Tax Structure; Social Security System; government saving; high-saving country; saving rate; growth variable; Income; Social security contributions; Income tax systems; Real interest rates; Income and capital gains taxes; Australia and New Zealand
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper analyzes the empirical determinants of household saving using data from 21 OECD countries for 1975-95. A particular focus is the influence of the tax and social security systems on household saving. The paper therefore extends the usual set of explanatory variables used to explain household saving behavior to include variables that capture the structure of the tax system and the financing and generosity of the social security and welfare system. These variables are found to have an important impact on household saving. Accordingly, by changing the design of these systems, governments may be able to influence saving.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund