Cultural Determinants of Household Saving Behavior

Paolo Masella, Hannah Paule-Paludkiewicz and Nicola Fuchs-Schündeln
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Hannah Paule-Paludkiewicz: Goethe University Frankfurt
Nicola Fuchs-Schündeln: Goethe University Frankfurt

No 1052, 2017 Meeting Papers from Society for Economic Dynamics

Abstract: Relying on the epidemiological approach, we show that culture is a significant driver of household saving behavior. Second-generation immigrants from countries that put strong emphasis on thrift or wealth accumulation tend to save more in Germany. We confirm these results in data from the UK. By linking parents to their children, we show that these two cultural components affect the saving behavior of both first-generation immigrants and their children, and also provide suggestive evidence that long-term orientation is related to saving behavior through the intergenerational transmission of language.

Date: 2017
New Economics Papers: this item is included in nep-eur and nep-soc
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Citations: View citations in EconPapers (13)

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