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Household Saving in Times of Crisis

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Finance in Crises

Part of the book series: Contributions to Finance and Accounting ((CFA))

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Abstract

In times of economic uncertainty, understanding household saving behavior is of particular importance to researchers and policymakers alike. We review the recent empirical literature on household saving over the life cycle, cross-sectional determinants of saving rates, and retirement saving, focusing on studies based on high-quality administrative data. We also discuss recent evidence on similarities in economic behavior and outcomes across generations. There are some common themes. While less financially savvy and low-income households are particularly at risk of under-saving, the literature also shows surprising differences in savings rates among financially well-off households. Individuals tend to exhibit present bias and inertia in their saving and consumption behavior and are strongly influenced by their upbringing and genetic predisposition.

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Authors and Affiliations

  1. University of Applied Sciences Northwestern Switzerland, Basel, Switzerland

    Daniel Hoechle & Frank Graef

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  1. Daniel Hoechle
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  2. Frank Graef
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Correspondence to Frank Graef .

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Editors and Affiliations

  1. Institute of Finance, University of Applied Sciences and Arts, Basel, Switzerland

    Tobias Hüttche

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Hoechle, D., Graef, F. (2023). Household Saving in Times of Crisis. In: Hüttche, T. (eds) Finance in Crises. Contributions to Finance and Accounting. Springer, Cham. https://doi.org/10.1007/978-3-031-48071-3_13

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