IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-319-91911-9_3.html
   My bibliography  Save this book chapter

Economic Crisis and Saving Behavior

In: Individual Behaviors and Technologies for Financial Innovations

Author

Listed:
  • Israel José Santos Felipe

    (Federal University of Ouro Preto
    University of Minho)

Abstract

This study used data from the Survey of Consumer Finances (SCF), 2007 and 2013, to examine the propensity to savings of American households in the pre- and post-economic crisis, based on the two-period consumption/savings model described by Bowman et al. (J Econ Behav Organ 38, 1999. https://doi.org/10.1016/S0167-2681(99)00004-9 ). This model assumes that asymmetry occurs in agents’ savings behavior in response to positive and negative shocks in income. Results obtained by logistic regression suggest that the 2008 global financial crisis has increased the relevance of factors such as the number of children, age, education level, income, and economic uncertainty, while other factors have diminished in relevance such as equity, financial risk tolerance, investment horizon, health, and home ownership. Evidence suggests that events of the magnitude of the crisis may lead to changes in the financial behavior of agents that are not entirely explained by the financial impacts suffered. The information discussed in this study may allow financial professionals and educators to provide recommendations that are more geared to the economic and financial reality of their countries. In addition, the discussions promoted here may offer opportunities for advancement in the study of savings determination.

Suggested Citation

  • Israel José Santos Felipe, 2019. "Economic Crisis and Saving Behavior," Springer Books, in: Wesley Mendes-Da-Silva (ed.), Individual Behaviors and Technologies for Financial Innovations, chapter 0, pages 47-67, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-91911-9_3
    DOI: 10.1007/978-3-319-91911-9_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-319-91911-9_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.