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Determinants and Patterns of Family Saving
Author(s) -
Hefferan Colien
Publication year - 1982
Publication title -
home economics research journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.372
H-Index - 31
eISSN - 1552-3934
pISSN - 0046-7774
DOI - 10.1177/1077727x8201100109
Subject(s) - demographic economics , family income , position (finance) , economics , regression analysis , econometrics , statistics , mathematics , finance , economic growth
This study was designed to determine the relative importance of income, wealth, and family characteristics in explaining the decision to save, the level of saving in house holds, and the patterns of saving in several types of families. Data from the 1972 ‐1973 Consumer Expenditure Survey were analyzed using multiple regression and difference of means tests. The results supported the general hypotheses that the decision to save and the level of saving are influenced by income, wealth, and family characteristics and that saving patterns vary among different types of families. The findings suggest that while income is the primary determinant of families' initial decision to save, their level of saving is best explained by their current wealth position.