8th SUERF/UniCredit Foundation Research Prize - Savings behaviour in crisis and post-crisis times

Attendance

Online

Posted on:

Application Deadline:

Expired

Type

Prizes & contests

The Global Financial Crisis and COVID-19 crisis have, among many other things, also affected savings behaviour. Changes involve both aggregate household savings ratios, individual propensity to consume and to save, as well as portfolio choice. While the post-GFC and COVID-induced very low interest rates have likely reduced income motives for saving, crises put precautionary savings into the foreground. In the COVID-19 crisis, new attention was directed to savings motives, given the impossibility to consume, resulting in โ€œforced savingsโ€. The COVID-19 crisis also raises the question whether consumption and household savings behaviour will change more permanently, and beyond the time of the constraints imposed by the pandemic and related containment measures. Such changes would have important permanent consequences on aggregate demand, structural employment/unemployment, potential growth, the sectoral composition of output, the natural rate of interest and, as a result, the environment in which fiscal and monetary policies act.

Posted on:

Application Deadline:

Expired

Type

Prizes & contests

Italy