1 option
Household Savings in Selected Southern European Countries Evidence from Cross-Country Micro-Level Data / Kamil Dybczak, Shiqing Hua, Mariusz Jarmuzek, Ruifeng Zhang, Yipei Zhang.
- Format:
- Book
- Government document
- Author/Creator:
- Dybczak, Kamil.
- Series:
- IMF Working Papers; Working Paper ; No. 2023/150
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (50 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2023.
- Summary:
- The paper looks into the puzzle of low household savings in three Southern European (SE3) countries – Cyprus, Greece, and Portugal. Building on the household saving drivers literature, we employ cross-country micro-level data and investigate the key saving patterns, examining their heterogeneity across households in SE3 countries relative to the EA average. The results confirm the prominent role of income, along with interest rate, inflation, fiscal balance, and debt in shaping household savings in SE3 countries. Quantile regressions employed to analyze saving behavior across the distribution of households suggest that households with lower savings tend to see their savings dip (or dissavings rise) more-than-proportionately with shocks to income, interest rate, inflation, and government balance. Our policy simulations across the distribution of households suggest that targeted rather than universal policy intervention could improve household savings, especially of the most vulnerable ones.
- Notes:
- Description based on print version record.
- ISBN:
- 9798400249853
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.