Determinants of the Household Saving Rate in Austria
Werner Dirschmid () and
Ernst Glatzer ()
Additional contact information
Werner Dirschmid: Oesterreichische Nationalbank
Ernst Glatzer: Oesterreichische Nationalbank, http://www.oenb.at
Monetary Policy & the Economy, 2004, issue 4, 25–38
The last few decades have seen a decline in the household saving rate in Austria and other industrial countries. Using an error correction model, this paper shows that in Austria personal saving decisions are influenced by income growth, real interest rates, inflation, social security expenditure and the general government budget balance. These findings are becoming increasingly important for economic policy, given the aging of society and the concomitant need for pension system reform. In future, households will be required to make greater provision for themselves and step up their saving efforts. As the results show, this can be achieved by productivity-boosting measures that generate income growth and promote personal saving.
Keywords: Saving; saving ratio (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (7) Track citations by RSS feed
Downloads: (external link)
https://www.oenb.at/dam/jcr:e4073824-6dd5-4d89-8a5 ... ses2_tcm16-23739.pdf (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:onb:oenbmp:y:2004:i:4:b:2
Ordering information: This journal article can be ordered from
Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria
Access Statistics for this article
Monetary Policy & the Economy is currently edited by Doris Ritzberger-Gruenwald and Ernest Gnan
More articles in Monetary Policy & the Economy from Oesterreichische Nationalbank (Austrian Central Bank) P.O. Box 61, A-1011 Vienna, Austria. Contact information at EDIRC.
Series data maintained by Claudia Kwapil ().