Download or read book Household Saving Motives written by Rui Yao and published by . This book was released on 2016 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the 2008 Survey of Chinese Consumer Finance and Investor Education and the 2007 Survey of Consumer Finances, this study compared saving motives between Chinese and American urban households. Results showed that, compared with their American counterparts, Chinese households were more likely to report precautionary and education saving motives; and Chinese households with lower incomes were more likely to report a retirement saving motive. Chinese households' stronger motivation to save serves as an explanation of the greater saving rates in China, compared to the United States. The results have implications for policy makers, financial professionals and consumer finance researchers.
Download or read book A Comparison of Household Saving Motives Between Chinese and Americans written by Feifei Wang and published by . This book was released on 2010 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main purpose of this study is to compare the household saving motives between Chinese and Americans. The two datasets used in this study are from the 2008 Survey of Chinese Consumer Finance and Investor Education and the 2007 Survey of Consumer Finances in the United States. The likelihood of reporting precautionary saving motive, education saving motive, and retirement saving motive was tested by logistic regression analysis. This study concluded that Chinese households were more likely to report the precautionary and education saving motives, when compared with American households. In terms of the retirement saving motive, only Chinese households placed in the first and second household income groups were more likely to perceive the retirement saving motive than their counterpart Americans. There was no difference in perceiving the retirement motive between Chinese and Americans for all the other household groups. The stronger motivation to save for Chinese than for Americans serves as a good explanation for the higher saving rates in China than in the United States. Policy makers and financial planners can use the findings to target particular population who are less motivated to save, and to help them realize the importance of saving and conduct necessary saving behaviors.
Download or read book The Influence of Household Saving Motives on the Propensity to Save and Portfolio Allocation Decisions written by Nurul Shahnaz Ahmad Mahdzan and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Savings Motives written by P. J. Kumarasinghe and published by . This book was released on 2017 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The household saving is a decision which is taken by the people to postpone their consumption of current income. Savings can be considered as one of the crucial tools which households utilized to accomplish their financial expectations in order to improve their financial wellbeing. There are many ways of accumulating or investing money, which can be identified as the deposits in bank accounts or building society accounts to saving in pensions, save in credit unions, invest in the stock market and many other saving sources. This study is an inspection of saving motives of Sri Lankan household in present economic situation. Briefly it can be explained, the harvest of the research will provide the answer to the question of what is the most significantly affected saving motive which stimulate/ encourage people to save money? And it will be further declared how do these saving motives vary when household characteristics differ? As a conclusion it can be stated that this study is seeking answers for why do people save money in a broader sense (Research Problem). And the answer for, of what is the most significantly affected saving motive to stimulate people, for savings? The main purpose of this paper is to examine the most significant savings motive among households in Kalutara District. Data were collected through questionnaires by using hundred respondents. The factor analysis is explored to examine, what is the most significant savings motive among pre-determined savings motives of bequest, precautionary and life cycle using SPSS 17. It has been identified the most significant savings motive of households in Kalutara district is the precautionary savings motive.
Download or read book Why Do People Save written by Charles Horioka and published by . This book was released on 1994 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Why Do People Save written by Charles Horioka and published by . This book was released on 1996 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Saving Behavior of U S Households written by Patricia Jo Fisher and published by . This book was released on 2006 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The main purpose of this dissertation is to explore household saving using a prospect theory approach through the use of the loss aversion model and behavioral portfolio theory. The research begins by investigating the effect of having expected per-period income above or below the reference level as well as the effect of uncertainty on the likelihood of saving based on the loss aversion model. The focus then moves to saving motives based on the ideas of behavioral portfolio theory. The direct measure of saving available in the dataset is saving over the previous year. Saving horizon is also investigated since the saving measure is a short-term measure and some regular savers may not have saved during the past year. The dataset used is the 2004 Survey of Consumer Finances. The sample excludes retired U.S. households for a final number of 3,694 households. Having expected per-period income above the reference level increases the likelihood of saving. Having expected per-period income below the reference level is significantly and negatively related to the likelihood of saving, and has a greater effect on the likelihood of saving than having expected per-period income above the reference. The group of uncertainty variables is significant in explaining the likelihood of saving. In contrast to the theories reviewed, most of the uncertainty variables are not found to increase the likelihood of saving. Saving motives and saving horizon are significant in explaining the likelihood of saving. Saving for a foreseeable expense significantly increases the likelihood of saving in both the models with and without interaction terms. Having a motive to save for the education of children or grandchildren significantly decreases the likelihood of saving in the model without interactions, while this variable is not significant when interactions are added. Inclusion of interactions of saving horizon variables with the saving motive variables is found to be significant in explaining the likelihood of saving, indicating that saving motives do differ by saving horizon.
Download or read book Precautionary Motives Versus Waiting Options written by Makoto Saito and published by . This book was released on 2003 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effect of Saving Motives and Horizon on Saving Behavior written by Patti J. Fisher and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this research is to explore saving motives and saving horizon using a large, nationally representative dataset, the Survey of Consumer Finances. The framework is based on prospect theory, in which consumption and saving decisions are based on a reference point rather than on lifetime income. Prospect theory also posits that individuals construct various mental accounts, thereby allowing for households to have multiple saving motives. Since prospect theory does not assume that saving decisions are based on lifetime income, saving horizons are allowed to vary. The emergency and retirement saving motives are found to significantly increase the likelihood of saving regularly. Longer saving horizons are also found to have a highly significant effect on the likelihood of saving, while poor health is shown to have a significantly negative effect on the likelihood of saving. The results show that the saving motives held by households differ by saving horizon, but the exact relationships are unclear. Further research on the link between saving motives, saving horizon, and saving behaviors is needed. It is important for financial professionals and educators to consider a household's saving goals, saving horizon, and health status when making recommendations or developing financial plans.
Download or read book An Inquiry Into the Empirical Importance of Precautionary Saving Motives in the Accumulation of Household and Aggregate Wealth written by Bradley K. Wilson and published by . This book was released on 1998 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Theory of Competitive Saving Motive written by Qingyuan Du and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by recent empirical work, this paper formalizes a theory of competitive savings - an arms race in household savings for mating competition that is made more fierce by an increase in the male-to-female ratio in the pre-marital cohort. Relative to the empirical work, the theory can clarify a number of important questions: What determines the strength of the savings response by males (or households with a son)? Can women (or households with a daughter) dis-save? What are the conditions under which aggregate savings would go up in response to a higher sex ratio? While the theory can be best tested using data from countries with a sex ratio imbalance, the competitive saving motive is likely to be present and important in all countries.
Download or read book Attitudes Towards and Motivations for Saving written by National Council of Applied Economic Research and published by . This book was released on 1964 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s High Savings Drivers Prospects and Policies written by Ms.Longmei Zhang and published by International Monetary Fund. This book was released on 2018-12-11 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s high national savings rate—one of the highest in the world—is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one-child policy and the transformation of the social safety net and job security that occured during the transition from planned to market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic changes will put downward pressure on savings. Policy efforts in strengthening the social safety net and reducing income inequality are also needed to reduce savings further and boost consumption.
Download or read book Relationship of Saving Motives to Saving Habits written by Patti J. Fisher and published by . This book was released on 2013 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how saving motives are related to saving habits using Katona's (1975) psychological classification of saving, where households save regularly (discretionary), save irregularly (residual), or do not save. Of the 3,822 non-retired households in the 2007 Survey of Consumer Finances, 46% saved regularly, 32% saved irregularly, and 22% did not save. Precautionary and retirement motives increased the likelihood of saving regularly or irregularly as compared with not saving, but only the retirement motive separated the regular savers from irregular savers. A long-term planning horizon and higher income increased the propensity for regular or irregular saving as compared with not saving, and for saving regularly as compared with irregularly, while low risk tolerance had the opposite effect. Financial advisors, educators, and policymakers should facilitate short- to long-term goal seeking with frequent saving by individuals and families.
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book Household Saving in Japan written by Charles Yuji Horioka and published by . This book was released on 1986 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Psychology of Saving written by Karl Erik Wärneryd and published by Edward Elgar Publishing. This book was released on 1999 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an assessment of factors accounting for differences between people who save and people who do not save money, summarizes theories and behavioral research in saving, and explores psychological insights and findings of economists, interpreting them in terms of modern psychology. Offers a historical perspective on the psychology of saving, looks into the psychology of saving in modern economic theories of saving, and discusses the use of cognitive and psychological variables in the study of saving. Gives an integrative framework for the psychology of saving, and discusses implications for studying and influencing the consumer. Annotation copyrighted by Book News, Inc., Portland, OR
