The assessment of government incentives on savings, Hungary 2006–2019

Czeczeli, Vivien, Kutasi, Gábor and Szabó, Eszter (2021) The assessment of government incentives on savings, Hungary 2006–2019. Acta Oeconomica, 71 (4). pp. 569-585. DOI 10.1556/032.2021.00040

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This study analyses the effectiveness of government incentives on household savings in Hungary prior to the Covid pandemic and the ensuing economic turmoil. Time series pertaining to life insurance, voluntary pension savings, and long-term and short-term government bonds are tested in relation to government incentives. The novelty of this study is the test on complex mix of policy incentives and saving funds. The analysis applies the multiple breakpoint test and OLS regression, based on the behavioural life cycle hypothesis. The conclusion is that in the analysed time period the government incentives had a significant effect and promoted savings behaviour, with the exception of short-term government bonds.

Item Type:Article
Uncontrolled Keywords:government incentives, household savings, breakpoint test, behavioural life cycle hypothesis, Hungary
JEL classification:C22 - Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
D14 - Household Saving; Personal Finance
D15 - Intertemporal Household Choice, Life Cycle Models and Saving
E21 - Macroeconomics: Consumption; Saving; Wealth
Divisions:Faculty of Social Sciences > Institute for World Economy
Subjects:Economic policy
Public administration
Funders:MKB Bank, University of Public Service
ID Code:7091
Deposited By: Ádám Hoffmann
Deposited On:16 Dec 2021 16:13
Last Modified:16 Dec 2021 16:13

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