The cultural origin of saving behavior.
Traditional economic interpretations have not been successful in explaining differences in saving rates across countries. One hypothesis is that savings respond to cultural specific social norms. The accepted view in economics so far is that culture does not have any effect on savings. We revisit th...
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| Format: | Article |
| Language: | English |
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Public Library of Science (PLoS)
2018-01-01
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| Series: | PLoS ONE |
| Online Access: | http://europepmc.org/articles/PMC6135367?pdf=render |
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doaj-c1de2f2d50004ac5bf1149c74a8ad2a12020-11-25T01:25:35ZengPublic Library of Science (PLoS)PLoS ONE1932-62032018-01-01139e020229010.1371/journal.pone.0202290The cultural origin of saving behavior.Joan Costa-FontPaola GiulianoBerkay OzcanTraditional economic interpretations have not been successful in explaining differences in saving rates across countries. One hypothesis is that savings respond to cultural specific social norms. The accepted view in economics so far is that culture does not have any effect on savings. We revisit this evidence using a novel dataset, which allows us to study the saving behavior of up to three generations of immigrants in the United Kingdom. Against the backdrop of existing evidence, we find that cultural preferences are an important explanation for cross-country differences in saving behavior, and their relevance persists up to three generations.http://europepmc.org/articles/PMC6135367?pdf=render |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Joan Costa-Font Paola Giuliano Berkay Ozcan |
| spellingShingle |
Joan Costa-Font Paola Giuliano Berkay Ozcan The cultural origin of saving behavior. PLoS ONE |
| author_facet |
Joan Costa-Font Paola Giuliano Berkay Ozcan |
| author_sort |
Joan Costa-Font |
| title |
The cultural origin of saving behavior. |
| title_short |
The cultural origin of saving behavior. |
| title_full |
The cultural origin of saving behavior. |
| title_fullStr |
The cultural origin of saving behavior. |
| title_full_unstemmed |
The cultural origin of saving behavior. |
| title_sort |
cultural origin of saving behavior. |
| publisher |
Public Library of Science (PLoS) |
| series |
PLoS ONE |
| issn |
1932-6203 |
| publishDate |
2018-01-01 |
| description |
Traditional economic interpretations have not been successful in explaining differences in saving rates across countries. One hypothesis is that savings respond to cultural specific social norms. The accepted view in economics so far is that culture does not have any effect on savings. We revisit this evidence using a novel dataset, which allows us to study the saving behavior of up to three generations of immigrants in the United Kingdom. Against the backdrop of existing evidence, we find that cultural preferences are an important explanation for cross-country differences in saving behavior, and their relevance persists up to three generations. |
| url |
http://europepmc.org/articles/PMC6135367?pdf=render |
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