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To what extent has financial income supported the saving rate in France?
[Dans quelle mesure les revenus financiers ont-ils soutenu le taux d'épargne en France ?]

Author

Listed:
  • Alice Carroy
  • Camille Thubin

Abstract

After reaching an all-time high during the pandemic, the household saving rate has decreased but remains more than 3 percentage points above its pre-Covid level. We show that changes in the composition of household income, driven mainly by the increase in net financial income resulting from interest rate developments, largely explain why the saving rate remained high in 2023-24. Après son pic historique atteint durant la crise sanitaire, le taux d'épargne des ménages a diminué mais reste supérieur de plus de 3 points à son niveau pré-Covid. Nous montrons que les changements dans la composition du revenu des ménages, induits notamment par la hausse des revenus financiers nets en lien avec l'évolution des taux d'intérêt, expliquent une grande part du maintien du taux d'épargne à un niveau élevé en 2023-2024.

Suggested Citation

  • Alice Carroy & Camille Thubin, . "To what extent has financial income supported the saving rate in France? [Dans quelle mesure les revenus financiers ont-ils soutenu le taux d'épargne en France ?]," Eco Notepad (in progress), Banque de France.
    • Handle: RePEc:bfr:econot:397
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