Household Savings Behaviour in Crisis Times
32 Pages Posted: 18 Oct 2011 Last revised: 2 Nov 2011
Date Written: August 1, 2011
We analyze whether households’ savings behaviour was affected by adverse experiences during the crisis and knowledge about banking supervision. Using a survey among Dutch households, we find that both factors have affected the allocation of savings. Individuals whose bank went bankrupt or received government support during the crisis gather more information about banks and saving instruments and are more likely to have savings at several banks. Respondents with better knowledge about banking supervision are more likely to gather information about banks and saving instruments, to spread their savings across banks, and to shift savings to other banks.
Keywords: savings; financial literacy, financial crisis, household decision-making
JEL Classification: D14, D84, E58
Suggested Citation: Suggested Citation