(Ir)rational Households' Saving Behavior? An Empirical Investigation

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43909817" target="_blank" >RIV/62156489:43110/16:43909817 - isvavai.cz</a>

Result on the web

<a href="http://dx.doi.org/10.1016/S2212-5671(16)30309-4" target="_blank" >http://dx.doi.org/10.1016/S2212-5671(16)30309-4</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/S2212-5671(16)30309-4" target="_blank" >10.1016/S2212-5671(16)30309-4</a>

Result language

angličtina

Original language name

(Ir)rational Households' Saving Behavior? An Empirical Investigation

Original language description

What is the households' saving behavior during different stages of economic cycle? What is the reaction of households' to the external shocks? Which factors motivate households' to save in foreign currency rather than in national currency? Are households' saving decisions rational and based on fundamentals economic indicators or, in contrary, irrational and resulted by 'herding' behavior? While these research questions are important for various reasons they are investigated in this empirical study. The objective of this study - to identify the economic and psychological factors influencing the households' saving behavior. The research methods: the systemic, logical and comparative analysis of the scientific literature and panel regression. The results of this empirical study show that the households' saving behavior is more irrational especially during economic downturn and financial crisis periods. These empirical findings can be explained by low degree of financial literacy, ineffective communication strategy of the central banks and governments during financial turmoil and economic downturn periods, etc.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

AH - Economics

OECD FORD branch

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Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Procedia Economics and Finance

ISBN

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ISSN

2212-5671

e-ISSN

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Number of pages

9

Pages from-to

625-633

Publisher name

Elsevier Science BV

Place of publication

Amsterdam

Event location

Řím

Event date

Nov 26, 2015

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000387543400084