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- Title
Household saving.
- Authors
Berry, Stuart; Williams, Richard
- Abstract
Household decisions on whether to save or spend play a key role in the outlook for aggregate demand. A range of factors could help to explain the fall in the household saving ratio over the period 1995 to 2007. Declines in long-term real interest rates, looser credit conditions, rising asset values and greater macroeconomic stability are all likely to have reduced the incentive or the need to save. Lower household saving was also offset to some extent by higher corporate saving. Since 2007, the financial crisis and subsequent recession have unwound some of these factors and may continue to lead to a rise in household saving.
- Subjects
SAVINGS; INTEREST rates; INTEREST rate risk; MONETARY policy; FINANCIAL crises; ASSETS (Accounting); FINANCIAL markets; BUSINESS cycles
- Publication
Bank of England Quarterly Bulletin, 2009, Vol 49, Issue 3, p191
- ISSN
0005-5166
- Publication type
Article