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JOURNAL OF MANAGEMENT POLICY AND PRACTICE

Empirical Analysis of the Saving Rate in the United States

Author(s): Hedayeh Samavati, Nodir Adilov, David A. Dilts

Citation: Hedayeh Samavati, Nodir Adilov, David A. Dilts, (2013) "Empirical Analysis of the Saving Rate in the United States," Journal of Management Policy and Practice, Vol. 14, Iss. 2, pp. 46 - 53

Article Type: Research paper

Publisher: North American Business Press

Abstract:

After two decades of decline, the personal saving rate in the United States has increased since the onset

of the Great Recession. This paper empirically analyzes the factors affecting the saving rate and factors

that contributed to the recent increase in the saving rate. Our results imply that changes in the

determinants of the saving rate suggested by economic theory can explain much of the recent trend in the

personal saving rate. Specifically, reduction in the household net wealth had the largest contribution to

the increase in the saving rate, while reduction in interest rates negatively affected households’ incentives

to save. These findings have important policy implications.