Tax rebates are instruments for stimulating consumer spending during recessions. Previous research assessed whether consumers use tax rebates for saving or, alternatively, purchasing goods and services. These studies concentrated on aggregate estimations. Based on the saving motive hierarchy...

This paper assesses ownership of 16 financial products by households in different lifecycle stages amongst four ethnic groups (Africans, Coloureds, Asians, and Whites) in South Africa. The lifecycle hypothesis indicates younger households should own more debt-related financial products, whereas...