-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of …

of in cash can play a major role in encouraging savings. When paid on the account, the money is saved by default, while … empathy towards the banker. Second, we provide evidence against the treated having developed an active savings habit on the …

The purpose of this research is to analyze the influence of financial literacy and materialism on the savings decision … literacy score and materialism level, as well as the savings rate of every respondent. Through a series of regression analyses … literacy positively influences savings decision; and (iii) materialism negatively influences savings decision. Our findings …