The Role of Household Saving in the Modern Economy

  • Josef Steindl


The special role of household saving in the modern industrial economy may well be worth considering, if only because of certain features suggested by available data: expressed as a ratio of GDP, these savings seem to show an increasing trend in several countries in the last two decades. Again, observation of the same ratio seems to show that it is rather inflexible in face of cyclical changes, responding little or sometime even perversely to a fall in incomes. In this respect it reacts quite differently from business savings.


Pension Fund Disposable Income Financial Asset Budget Deficit Life Insurance Company 
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  1. 4.
    Federal Reserve System, Introduction to Flow of Funds (Washington, 1975).Google Scholar
  2. 5.
    J.M. Samuels et alia., Company Finance in Europe (London, 1975).Google Scholar
  3. 8.
    See T.S. Ward and R.R. Neild, The Measurement and Reform of Budgetary Policy (London: Heinemann, 1978).Google Scholar

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© Josef Steindl 1990

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  • Josef Steindl

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