The lifecycle theory of saving and consumption predicts that changes in an economy’s rate of economic growth will affect its aggregate saving rate by changing the lifetime resources of younger people relative to older people. However, studies that track the saving behavior of cohorts of household heads over time as they age have yielded estimates of age-saving profiles that are too flat for gro...

With governments redistributing more responsibilities unto citizens, individuals have an increasing need for financial resources acting as a buffer against life’s setbacks and unexpected expenditures. The purpose of this study was to examine psychological determinants of saving for a financial buffer, for which a theoretical model was formulated based on the theory of planned behaviour with thr...