Modelling impact of economic and demographic factors on personal saving rate in the euro area
by Renáta Pitoňáková
International Journal of Trade and Global Markets (IJTGM), Vol. 12, No. 3/4, 2019

Abstract: The decision of economic subjects whether to consume or save is determined by different economic, monetary, and demographic factors. The paper focuses upon personal saving rate of the whole euro area taking into account economic and demographic aspects. The modelling uses quarterly data within 2005 Q1-2017 Q2. The results indicate a negative relation between savings and dependency ratio of elderly suggesting savings for retirement. Government spending pushes savings up, inflation causes dissaving. Implications are for governing bodies directing measures for investment and consumption, for pension systems when managing sustainability of pension funds due to population ageing and for households when deciding about savings or consumption.

Online publication date: Mon, 12-Aug-2019

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