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Autor:innen: 
Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
Discussion Papers No. 354
Verlag: 
Statistics Norway, Research Department, Oslo
Zusammenfassung: 
Are there generational differences in saving behavior? On the basis of new micro data for household saving in Norway I find that differences between birth cohorts are small and statistically insignificant. In particular, cohort effects are small compared to the strong positive effect of aging on saving. Furthermore, within the framework of a life-cycle model, a generation that is characterized as being particularly patient or prudent will save more while young and less while old, a result that goes against the intuition that the current old save much because they belong to a generation with preferences for high saving. To ensure that the empirical findings are robust, a variety of econometric specifications and techniques are employed.
Schlagwörter: 
Life-cycle models and saving
age
period and cohort effects
robust estimation
JEL: 
D91
E12
Dokumentart: 
Working Paper

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