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Saving in New Zealand: Measurement and Trends

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Abstract

This paper examines the trends in saving in New Zealand. It considers different sources of information about saving and highlights issues with the measurement of saving. Illustrations are provided of the impact of adjusting saving for both the effects of inflation and the inclusion of some items of expenditure, which are typically counted as consumption. The difficulty of drawing clear implications for policy on the basis of our existing knowledge and data on saving and wealth levels in New Zealand is highlighted. An appendix to the paper includes a comprehensive set of data on New Zealand saving and related variables.

Suggested Citation

  • Iris Claus & Grant Scobie, 2002. "Saving in New Zealand: Measurement and Trends," Treasury Working Paper Series 02/02, New Zealand Treasury.
    • Handle: RePEc:nzt:nztwps:02/02
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    File URL: https://treasury.govt.nz/sites/default/files/2007-09/twp02-02.pdf
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    References listed on IDEAS

    as
    1. Boskin, Michael J., 1988. "Issues in the Measurement and Interpretation of Saving and Wealth," CEPR Publications 244418, Stanford University, Center for Economic Policy Research.
    2. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    3. Michael J. Boskin, 1988. "Issues in the Measurement and Interpretation of Saving and Wealth," NBER Working Papers 2633, National Bureau of Economic Research, Inc.
    4. Andrew Dean & Martine Durand & John Fallon & Peter Hoeller, 1989. "Saving Trends and Behaviour in OECD Countries," OECD Economics Department Working Papers 67, OECD Publishing.
    5. Hamilton, James D, 1989. "A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle," Econometrica, Econometric Society, vol. 57(2), pages 357-384, March.
    6. Shafer, Jeffrey R & Elmeskov, Jorgen & Tease, Warren, 1992. " Saving Trends and Measurement Issues," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(2), pages 155-175.
    7. Robert A Buckle & David Haugh & Peter Thomson, 2002. "Growth and volatility regime switching models for New Zealand GDP data," Treasury Working Paper Series 02/08, New Zealand Treasury.
    8. William G. Gale & John Sabelhaus, 1999. "Perspectives on the Household Saving Rate," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 30(1), pages 181-224.
    9. Clive Thorp & Bun Ung, 2001. "Recent trends in household financial assets and liabilities," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, June.
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    Citations

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    Cited by:

    1. Le, Trinh, 2007. "Does New Zealand have a household saving crisis?," NZIER Working Paper 2007/1, New Zealand Institute of Economic Research.
    2. Sebastian Edwards, 2006. "External Imbalances in an Advanced, Commodity-Exporting Country: The Case of New Zealand," NBER Working Papers 12620, National Bureau of Economic Research, Inc.
    3. Khoon Goh, 2005. "Savings and the household balance sheet," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 68, June.
    4. Trinh Le & John Gibson & Steven Stillman, 2010. "Household Wealth and Saving in New Zealand: Evidence from the Longitudinal Survey of Family, Income and Employment," Working Papers 10_06, Motu Economic and Public Policy Research.
    5. Anjum Siddiqui & Abdul Waheed & Haider Mahmood, 2016. "Social and Macroeconomic Uncertainty and Private Savings: A Case Study of a Developing Economy," International Journal of Economics and Financial Issues, Econjournals, vol. 6(4), pages 1768-1777.
    6. Daan Steenkamp, 2010. "New Zealand’s imbalances in a cross-country context," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 73, pages 37-49, December.
    7. Grant M Scobie & John K Gibson, 2003. "Household Saving Behaviour in New Zealand: Why do Cohorts Behave Differently?," Treasury Working Paper Series 03/32, New Zealand Treasury.
    8. Grant M. Scobie & Katherine Henderson, 2009. "Saving Rates of New Zealanders: A Net Wealth Approach," Treasury Working Paper Series 09/04, New Zealand Treasury.
    9. James Obben & Monique Waayer, 2011. "New Zealand's old‐age pension scheme and household saving," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 38(9), pages 767-788, August.

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    More about this item

    Keywords

    Saving by sectors; measurement;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • C89 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other

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