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Household Saving in Germany

Household Saving in Germany

Results of the First SAVE Study

(p.317) 10 Household Saving in Germany
Analyses in the Economics of Aging
Axel Börsch-Supan, Lothar Essig
University of Chicago Press

This chapter examines the saving behavior of households in Germany. The findings reveal extraordinarily stable and sound levels of saving. Germans save regularly, in a manner that is planned, and often with a clearly defined purpose in mind. The result also indicates that precaution and old-age provision are the two most important savings motives in Germany. This chapter also explains that labor income in Germany has less individual variation than labor income in the United States and this reduces the precautionary savings motive.

Keywords:   saving behavior, households, Germany, old-age provision, savings motive, labor income

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