Household Saving and The Rate of Interest

Sam Ouliaris

The Economic Record, 1981, vol. 57, issue 3, 205-214

Abstract: This paper examines the relationship between the post‐tax real interest rate and the Australian household saving ratio at the empirical level. Using alternative models of the consumption‐saving decision and different estimation periods, it is shown that the post‐tax real interest rate exerts a significant negative influence on the saving ratio. The estimates, therefore, imply that the fall in post‐tax real interest rates during the 1970s contributed to the rise in the Australian saving ratio.

Date: 1981
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