This data set describes the savings behavior of 50 countries in 1960-1970. The data set includes demographical variables as well as variables on disposable income.
data.savingsA data frame with 50 observations on the following five variables.
sr | ratio of the country's private savings to its disposable income. |
pop15 | share of the country's population under 15. |
pop75 | share of the country's population over 75. |
dpi | country's real per capita disposable income (in dollar). |
ddpi | growth rate of the country's disposable income per capita (in percent). |
Under the life-cycle savings hypothesis as developed by Franco Modigliani, the savings ratio (aggregate personal saving divided by disposable income) is explained by per-capita disposable income, the percentage rate of change in per-capita disposable income, and two demographic variables: the percentage of population less than 15 years old and the percentage of the population over 75 years old. The data are averaged over the decade 1960-1970 to remove the business cycle or other short-term fluctuations.
In Auer et al. (2024, Chaps. 9, 10 & 12) the data set is used to illustrate the econometric analysis of a multivariate linear regression model.
Auer, L.v., Hoffmann, S. & Kranz, T. (2024): Ökonometrie - Das R-Arbeitsbuch, 2nd ed., Springer-Gabler (https://www.oekonometrie-lernen.de).