Comment on L. Guiso, T. Jappelli and D. Terlizzese, "Saving and Capital Market Imperfections: The Italian Experience" and E. Koskela and M. Viren, "Inflation, Capital Markets and Household Saving in the Nordic Countries."
Article Abstract:
Information on the operation of capital markets can be very useful in investigating saving trends, as shown by the 'Saving and Capital Market Imperfections: The Italian Experience' study by L. Guiso, T. Jappelli and D. Terlizzese and by the 'Inflation, Capital Markets and Household Saving in the Nordic Countries' study by E. Koskela and M. Viren. Life-cycle theory can be useful in analysing the international differences in saving levels, while capital market data is important too, as household saving rates are significantly affected by the opportunity for borrowing and sharing risk through capital markets. Both studies suggest that capital market problems can cause cross-country differences in saving rates, but they focus less on the impact on saving of government transfer and insurance programmes.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Comment on A. Ando, L. Guiso, D. Terlizzese and D Dorsainvil, "Saving among Young Households. Evidence from Japan and Italy."
Article Abstract:
The 'Saving among Young Households. Evidence from Japan and Italy' study by L. Guiso, A. Ando, D. Dorsainvil and D. Terlizzese puts forward a theoretical structure which is intended to be in line with observed behaviour, but a direct empirical test of this theory is not possible. Thus the explanation put forward by the authors for the apparent inconsistency of the behaviour of young households in these countries with the life-cycle theory remains uninvestigated, even though it is of interest. The study succeeds, however, in testing whether current consumption and income is affected to any extent by expected future income.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Comment on J. Shafer, J. Elmeskov and W. Tease, "Saving Trends and Measurement Issues"
Article Abstract:
The paper 'Saving Trends and Measurement Issues', presented by J. Elmeskov, J. Shafer and W. Tease at the 'Savings behavior: theory, international evidence and policy implications' conference, gives extensive information on the relevant issues, but fails to deal with assets. It also gives insufficient attention to the importance of net, rather than gross, figures, pointing to inaccurate statistics. However, it looks at several alternative savings theories, and indicates that using any of these theories instead of the one currently in place could cause problems. Other aspects of the conference are also discussed.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Inventory investment and capital market imperfections: a generalization of the linear quadratic inventory model
- Abstracts: Comment on E.R. Berndt and B. Hansson, "Measuring the Contribution of Public Infrastructure Capital in Sweden." (response to article by Ernst R. Berndt and Bengt Hansson in this issue, p.S151)
- Abstracts: Comment on H. Bjurek, U. Kjulin and B. Gustafsson, "Efficiency, Productivity and Determinants of Inefficiency at Public Day Care Centers in Sweden
- Abstracts: The liquidity premium and average interest rates. Consumption and credit constraints: international evidence
- Abstracts: Hunting for Homo Sovieticus: situational versus attitudinal factors in economic behaviour. Official creditor seniority and burden-sharing in the former Soviet bloc