Footnote:
In: Bank of England Quarterly Bulletin, Q3 2009
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 21, 2009 erstellt
Description:
Household decisions on whether to save or spend play a key role in the outlook for aggregate demand. A range of factors could help to explain the fall in the household saving ratio over the period 1995 to 2007. Declines in long-term real interest rates, looser credit conditions, rising asset values and greater macroeconomic stability are all likely to have reduced the incentive or the need to save. Lower household saving was also offset to some extent by higher corporate saving. Since 2007, the financial crisis and subsequent recession have unwound some of these factors and may continue to lead to a rise in household saving