Relying on the epidemiological approach, we show that culture is a significant driver of household saving behavior. Second-generation immigrants from countries that put strong emphasis on thrift or wealth accumulation tend to save more in Germany. We confirm these results in data from the United Kingdom. By linking parents to their children, we show that these two cultural components affect the saving behavior of both first-generation immigrants and their children.
Fuchs-Schundeln, N., Masella, P., Paule-Paludkiewicz, H. (2020). Cultural Determinants of Household Saving Behavior. JOURNAL OF MONEY, CREDIT, AND BANKING, 52(5), 1035-1070 [10.1111/jmcb.12659].
Cultural Determinants of Household Saving Behavior
Masella P.;
2020
Abstract
Relying on the epidemiological approach, we show that culture is a significant driver of household saving behavior. Second-generation immigrants from countries that put strong emphasis on thrift or wealth accumulation tend to save more in Germany. We confirm these results in data from the United Kingdom. By linking parents to their children, we show that these two cultural components affect the saving behavior of both first-generation immigrants and their children.| File | Dimensione | Formato | |
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