Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/215383 
Year of Publication: 
2020
Series/Report no.: 
IZA Discussion Papers No. 12987
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Traditional economic interpretations have not been successful in explaining differences in saving rates across countries. One hypothesis is that savings respond to cultural specific social norms. A seminal paper in economics (1) however did not find any effect of culture on savings. We revisit this evidence using a novel dataset, which allows us to study the saving behavior of up to three generations of immigrants in the United Kingdom. Against the backdrop of existing evidence, we find that cultural preferences are an important explanation for cross-country differences in saving behavior, and their relevance persists up to three generations.
Subjects: 
saving
culture
JEL: 
Z1
D0
Document Type: 
Working Paper

Files in This Item:
File
Size
431.11 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.