Savings rate
With savings rate is referred to in economics an economic indicator that the share of unspent income reflects. Changing them therefore has an inventory-changing effect: they increase positive balances and reduce debts .
species
A distinction is made here:
- Average savings rate of private households , as the proportion of the savings amount on disposable income is defined.
- Macroeconomic savings rate , which indicates the ratio of the savings in the entire economy (households, companies and the state) in relation to gross domestic product .
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Marginal savings rate , which indicates the change in the amount saved in the event of a change in income. The savings rate is between 0 and 1.
The marginal consumption rate is then the remaining share of income, which is why 1 - savings rate is equal to the marginal consumption rate.
When determining the savings contributions, savings payments and net borrowing are netted. If the amount of net borrowing exceeds the amount of money saved by a certain sector (per period), the savings rate is referred to as negative.
Nicholas Kaldor recognized for the first time that the savings rate increases as income rises. In Germany, for example, in the first half of 2003 there was a decline in savings among low-income earners - the savings have therefore decreased - whereas the proportion of money saved rose steadily with increasing income.
Savings rate, loan requirements & business cycle
Although it is assumed in classic models that there should be an average level of the savings rate in order to be able to offer companies capital for investments, this assumption turns out to be a fallacy when viewed from a macroeconomic perspective - because the amount of money saved by some results in credit requirements the other .
In 2010, the Council of Economic Experts declared the stimulating effect on the economy with a savings rate of zero - if additional income is spent completely: "Transfers to private households have stimulating effects above all if they are transferred to liquidity or credit-restricted (so-called not -ricardian) households that immediately and fully spend a higher income. "
Savings rate in Germany
The following graphic shows the development of the saving rate of private households in Germany since 1991:
Savings rate in Austria
The following graphic shows the development of the net savings rate of private households and private non-profit organizations in Austria:
See also
- Consumption rate
- Profit ratio (economy)
- Credit theory
- Saving function
- Economic cycle
- Macroeconomic financial accounts
Individual evidence
- ↑ Die Zeit: Earned a lot - saved a lot ( memento of the original from January 30, 2012 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. . 2005
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^ Wilhelm Lautenbach: Interest, credit and production. (Ed. Wolfgang Stützel) Tübingen 1952. p. 48 f:
“If the non-entrepreneurs do not fully spend what they have collected, so they save, then the credit volume grows to the extent that they save from appointment to appointment. Through these savings, the non-entrepreneurs participate in social wealth. The entrepreneur's need for credit arises from the fact that non-entrepreneurs save, irrespective of whether they are private or whether it is the public sector that has surpluses. " - ↑ Advisory Council on the Assessment of Overall Economic Development: Annual Report 2010/2011 (PDF; 5.6 MB) p. 186.
- ↑ National accounts. (PDF; 849 KB) Domestic product calculation: Long series from 1970. Federal Statistical Office , June 1, 2018, p. 30 , accessed on August 24, 2018 .
- ↑ annual data. Income and saving of households and non-profit institutions serving households, 1995–2018. Statistics Austria , June 27, 2019, accessed on September 15, 2019 .
