Measures for savings and saving rates in the German SAVE data set

Lothar Essig ()
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Lothar Essig: Mannheim Research Institute for the Economics of Aging (MEA) and Sonderforschungsbereich 504, Postal: L 13, 15, D-68131 Mannheim

No 05-20, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: Saving is frequently measured using a one-shot question for total annual saving during the preceding year. This type of one-shot recall question might cause severe measurement errors since saving is a complicated concept which consists of various components, many of which respondents might not be fully aware of. This paper uses the SAVE data to analyze potential errors generated by this kind of questioning and provides remedies in order to construct the most of reliable saving measure given the information at hand.

Pages: 23 pages
Date: 2004-05-15
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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