Research Discussion Paper – RDP 2006-07 Household Saving and Asset Valuations in Selected Industrialised Countries

Contents

• Introduction
• Household Saving in Standard Theoretical Models
• Empirical Assessment
• Conclusion
• Appendix A: Data
• Appendix B: Measurement Issues Related to the National Accounts Measure of Saving
• Appendix C: The Relationship of Household Saving to Wealth Building
• References

This work was initiated while the author was visiting the Reserve Bank of Australia (RBA) from the European Central Bank (ECB). The views expressed in this paper are those of the author and do not necessarily reflect those of the RBA or the ECB. I would like to thank staff at the RBA and ECB for useful comments and assistance, with a special thanks to Marion Kohler and Christopher Kent for very useful discussions and guidance. I would also like to thank Claudio Borio and Philippe Hainaut for providing data compiled by the BIS, along with Sue Black and Ana Lima for their useful assistance in constructing relevant databases. Any remaining errors are, of course, my sole responsibility.