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12:30 - 13:30 31 January 2017

"Cultural Determinants of Household Saving Behavior” joint with Nicola Fuchs-Schündeln and Paolo Masella


321 | Drayton House (link Map)
30 Gordon Street | London | WC1H 0AN | United Kingdom

Open to: Academic | Student
Admission: Free
Ticketing: Open

Speaker information

Hannah Paule, Goethe University Frankfurt

We analyze whether culture affects the saving behavior of households, and which cultural channels matter for this household decision. To disentangle cultural effects from economic and institutional factors, we study how the saving behavior of second-generation immigrants relates to attitudes in the respective countries of origin. Using data from Germany and the UK, we find that culture significantly determines household saving behavior. The two cultural components that we robustly identify to affect saving rates are attitudes towards thrift and the wealth accumulation motive: second-generation immigrants from countries that value thrift and wealth accumulation more tend to save more in Germany. By linking parents to their children, we present evidence that these attitudes are related to the saving behavior of both parents and children


Economics Reception