The Decline in Private Saving Rates in the 1990s in OECD Countries: How Much Can be Explained by Non-Wealth Determinants?
The substantial decline in private-sector saving rates observed in several OECD countries in the late 1990s coincided in several cases with a sharp increase in household financial net worth. This was seen by many observers as evidence that the strong rise in equity and residential property prices du...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2002
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | The substantial decline in private-sector saving rates observed in several OECD countries in the late 1990s coincided in several cases with a sharp increase in household financial net worth. This was seen by many observers as evidence that the strong rise in equity and residential property prices during the late 1990s had been treated by households as a permanent increase in wealth, leading to an unsustainable drop in saving and raising fears of an eventual negative wealth effect. Applying estimation techniques for systems of dynamic panel equations, this paper looks at basic determinants of private saving for a sample of 15 OECD countries and finds that the sharp decline in saving observed after 1995 can be largely explained, even in a post-sample fashion, by fundamentals other than financial wealth. Among the determinants, the rise in public-sector saving is found to have contributed the most to the decline in private saving between 1995 and 2000. Based on this ... |
| Beschreibung: | 1 Online-Ressource (49 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/241254248236 |
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| indexdate | 2024-07-10T09:25:34Z |
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| spelling | de Serres, Alain Verfasser aut The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? Alain de Serres and Florian Pelgrin = La baisse des taux d'épargne privée durant les années 1990s dans les pays de l'OCDE : La contribution des déterminants autres que la richesse? / Alain de Serres et Florian Pelgrin La baisse des taux d'épargne privée durant les années 1990s dans les pays de l'OCDE Paris OECD Publishing 2002 1 Online-Ressource (49 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The substantial decline in private-sector saving rates observed in several OECD countries in the late 1990s coincided in several cases with a sharp increase in household financial net worth. This was seen by many observers as evidence that the strong rise in equity and residential property prices during the late 1990s had been treated by households as a permanent increase in wealth, leading to an unsustainable drop in saving and raising fears of an eventual negative wealth effect. Applying estimation techniques for systems of dynamic panel equations, this paper looks at basic determinants of private saving for a sample of 15 OECD countries and finds that the sharp decline in saving observed after 1995 can be largely explained, even in a post-sample fashion, by fundamentals other than financial wealth. Among the determinants, the rise in public-sector saving is found to have contributed the most to the decline in private saving between 1995 and 2000. Based on this ... Economics Pelgrin, Florian ctb https://doi.org/10.1787/241254248236 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | de Serres, Alain The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? Economics |
| title | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? |
| title_alt | La baisse des taux d'épargne privée durant les années 1990s dans les pays de l'OCDE |
| title_auth | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? |
| title_exact_search | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? |
| title_exact_search_txtP | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? |
| title_full | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? Alain de Serres and Florian Pelgrin = La baisse des taux d'épargne privée durant les années 1990s dans les pays de l'OCDE : La contribution des déterminants autres que la richesse? / Alain de Serres et Florian Pelgrin |
| title_fullStr | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? Alain de Serres and Florian Pelgrin = La baisse des taux d'épargne privée durant les années 1990s dans les pays de l'OCDE : La contribution des déterminants autres que la richesse? / Alain de Serres et Florian Pelgrin |
| title_full_unstemmed | The Decline in Private Saving Rates in the 1990s in OECD Countries How Much Can be Explained by Non-Wealth Determinants? Alain de Serres and Florian Pelgrin = La baisse des taux d'épargne privée durant les années 1990s dans les pays de l'OCDE : La contribution des déterminants autres que la richesse? / Alain de Serres et Florian Pelgrin |
| title_short | The Decline in Private Saving Rates in the 1990s in OECD Countries |
| title_sort | the decline in private saving rates in the 1990s in oecd countries how much can be explained by non wealth determinants |
| title_sub | How Much Can be Explained by Non-Wealth Determinants? |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/241254248236 |
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