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Which Households Think They Save?

The Journal of Consumer Affairs, Vol. 44, No. 1, pp. 70-97, 2010

37 Pages Posted: 19 Mar 2009 Last revised: 26 Jun 2017

Yoonkyung Yuh

Ewha Womans University

Sherman D. Hanna

Ohio State University (OSU)

Date Written: May 23, 2009

Abstract

We examine household saving in the context of a prescriptive model. Using Survey of Consumer Finances data sets in the 1995-2004 period, 57% of households reported spending less than income. Many effects in the multivariate analysis are consistent with a prescriptive model. We discuss other effects in terms of possible differences in the ability to plan or the accuracy of reporting by the respondent. Young households are more likely to report saving than older households. Black households are less likely to report saving than white households. Single female households are less likely to report saving than single male households.

Keywords: Savings, Life Cycle Theory, Prescriptive Model

JEL Classification: D12, D14, D91, E21

Suggested Citation

Yuh, Yoonkyung and Hanna, Sherman D., Which Households Think They Save? (May 23, 2009). The Journal of Consumer Affairs, Vol. 44, No. 1, pp. 70-97, 2010. Available at SSRN: https://ssrn.com/abstract=1361840

Yoonkyung Yuh (Contact Author)

Ewha Womans University ( email )

Shinsegae Building Rm 425
11-1 Daehyun-dong, Seodaemun-gu
Seoul 120-750
Korea
82-2-3277-4076 (Phone)
82-2-3277-2835 (Fax)

Sherman D. Hanna

Ohio State University (OSU) ( email )

1787 Neil Avenue
Campbell 265D
Columbus, OH 43210
United States
614-292-4584 (Phone)

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