SAVE-study
Encyclopedia
SAVE is a representative data collection about private households’
saving behaviour in Germany. The survey was conducted in 2001 for the first time.
(DFG). It lays its main emphasis on saving behaviour, old-age provision and wealth creation in Germany. The SAVE-study makes it possible to explore economic, sociological and psychological interdependences. This means that it collects information about income, wealth and old-age provision and about socio-demographic
and psychological characteristics. This information includes e.g. expectations, attitudes and the degree of risk-aversion of the respondents. Since 2005 SAVE is conducted annually. Since respondents remain the same every year (panel)
, changes in saving behaviour and investment behaviour of households can be tracked over time.
per year is shown in the following table.
Further information about the SAVE-dataset is available on the SAVE homepage where e.g. the yearly questionnaires can be downloaded. There also exists another dataset called „miniSAVE" for the years 2005-2010 which is especially useful for teaching purposes. MiniSAVE provides an easy way to get to know the dataset.
The list below provides a selection of publications associated with the SAVE survey:
To gain a more profound insight into what SAVE is all about, the structure of the questionnaire, the interview mode, item-nonresponse and representativeness of the sample used, one should also consider the following study:
Household
The household is "the basic residential unit in which economic production, consumption, inheritance, child rearing, and shelter are organized and carried out"; [the household] "may or may not be synonymous with family"....
saving behaviour in Germany. The survey was conducted in 2001 for the first time.
Sparen und Altersvorsorge in Deutschland |
|
| Director | Prof. Börsch-Supan |
| Initiation | 2001 |
| Institution | Munich Center for the Economics of Aging (MEA), Max-Planck-Institute for Social Law and Social Policy |
| Address | Amalienstr. 33 80799 München Germany |
| Website | http://www.mea.mpisoc.mpg.de |
About the study
The Munich Center for the Economics of Aging (MEA) conducts the SAVE survey since 2001 in collaboration with TNS Infratest Sozialforschung in order to improve the research concerning the saving behaviour of German households. The survey is financed by the Deutsche ForschungsgemeinschaftDeutsche Forschungsgemeinschaft
The Deutsche Forschungsgemeinschaft is an important German research funding organization and the largest such organization in Europe.-Function:...
(DFG). It lays its main emphasis on saving behaviour, old-age provision and wealth creation in Germany. The SAVE-study makes it possible to explore economic, sociological and psychological interdependences. This means that it collects information about income, wealth and old-age provision and about socio-demographic
Demography
Demography is the statistical study of human population. It can be a very general science that can be applied to any kind of dynamic human population, that is, one that changes over time or space...
and psychological characteristics. This information includes e.g. expectations, attitudes and the degree of risk-aversion of the respondents. Since 2005 SAVE is conducted annually. Since respondents remain the same every year (panel)
Panel data
In statistics and econometrics, the term panel data refers to multi-dimensional data. Panel data contains observations on multiple phenomena observed over multiple time periods for the same firms or individuals....
, changes in saving behaviour and investment behaviour of households can be tracked over time.
Sample size
Launching the sample in 2001 it was continuously extended in 2003, 2005 and 2006 by inclusion of a new set of households. By the year 2006 the panel reached a high level of stability. In 2007 84% of German households who also participated in 2006 could be interviewed again. In 2008 and 2009 the response rate was even better, namely 89% and 85%. The sample sizeSample size
Sample size determination is the act of choosing the number of observations to include in a statistical sample. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample...
per year is shown in the following table.
| Year | 2001 | 2003/04 | 2005 | 2006 | 2007 | 2008 | 2009 |
|---|---|---|---|---|---|---|---|
| No. of households | 1829 | 3154 | 2305 | 3474 | 2931 | 2608 | 2222 |
Range of topics
The SAVE study can help to improve research in various areas. The following list shows in detail which topics are covered by the questionnaire:- Satisfaction with current life situation
- Socio-demographic informationDemographyDemography is the statistical study of human population. It can be a very general science that can be applied to any kind of dynamic human population, that is, one that changes over time or space...
- Social environment (2005–2008)
- HealthHealthHealth is the level of functional or metabolic efficiency of a living being. In humans, it is the general condition of a person's mind, body and spirit, usually meaning to be free from illness, injury or pain...
(since 2005) - Qualitative and quantitative questions about saving behaviour
- Financial literacyFinancial literacyFinancial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances...
(since 2007, extensive section in 2009) - ConsumptionConsumption (economics)Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally, consumption is defined in part by comparison to production. But the precise definition can vary because different schools of economists define production quite differently...
behaviour (2003/2004) - Qualitative und quantitative questions concerning regular and exceptional incomeIncomeIncome is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings...
- Old-age provision, retirement, entitlements (every year, design changed slightly over time)
- Financial assets, private old-age provision, real estate assets, business assets, etc.
- Extra section about Riester pension (2008)
- CreditsCredit (finance)Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...
and mortgages - Expectations, self-assessment, psychological and sociological determinants of saving behaviour, preferences
- Financial crisisFinancial crisisThe term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these...
(2009) - Interview situation
Access to the dataset
The SAVE-dataset is made available to the public by the GESIS - Leibniz-Institut für Sozialwissenschaften for non-commercial use only. Anonymity of the respondents is ensured by all means.Further information about the SAVE-dataset is available on the SAVE homepage where e.g. the yearly questionnaires can be downloaded. There also exists another dataset called „miniSAVE" for the years 2005-2010 which is especially useful for teaching purposes. MiniSAVE provides an easy way to get to know the dataset.
Literature
The results of the SAVE study are published by scientific journals and specialist books as well as by certain types of media addressing the public. A comprehensive list of publications associated with the SAVE survey can be found on the SAVE homepage.The list below provides a selection of publications associated with the SAVE survey:
- Börsch-Supan, A.; Essig, L. (2003): Household Saving in Germany: Results of the first SAVE Study. In: Wise, David (ed.), Analyses in the Economic of Aging, University of Chicago Press, Chicago. Artikel
- Börsch-Supan, A., A. Reil-Held und D. Schunk (2007): Das Sparverhalten deutscher Haushalte: Erste Erfahrungen mit der Riester-Rente. Gutachten für das Bundesministerium für Bildung und Forschung. Artikel
- Börsch-Supan, Axel, Reil-Held, Anette und Daniel Schunk (2008): Saving incentives, old-age provision and displacement effects: Evidence from the recent German pension reform. Journal of Pension Economics and Finance, 7(3), 295-319. Artikel
- Coppola, M. (2008): Das Sparverhalten der deutschen Haushalte. MEA Policy Brief no. 5. Artikel
- Scheubel, B; Winter, Joachim (2008): Rente mit 67: Wie lange die Deutschen arbeiten können und wollen. ifo Schnelldienst 2008(1), 26-32. Artikel
- Ziegelmeyer, Michael (2010): Das Altersvorsorge-Verhalten von Selbständigen - eine Analyse auf Basis der SAVE-Daten. Schmollers Jahrbuch, 130(2), 195-239. Artikel
To gain a more profound insight into what SAVE is all about, the structure of the questionnaire, the interview mode, item-nonresponse and representativeness of the sample used, one should also consider the following study:
- Börsch-Supan, A., M. Coppola, L. Essig, A. Eymann, D. Schunk (2008): The German SAVE study. Design and Results. MEA Study Nr. 6, MEA Mannheim. Artikel
External links
- http://www.mea.mpisoc.mpg.de/index.php?id=213&L=2
- http://www.tns-infratest-sofo.com/arbeitsber/2550/2550_kurzf1.html