Policy Forum: Saving for Retirement: Policy Options to Increase Retirement Saving in Australia
Author(s)
Guest, Ross
Griffith University Author(s)
Year published
2010
Metadata
Show full item recordAbstract
Saving is important to households, governments and the corporate sector. It allows households and governments to smooth consumption in the face of fluctuations in disposable income. These fluctuations may be foreseen, such as when individuals retire because of old age or when governments foresee budget deficits because of an ageing population. Or they may be unforseen, such as the effects of the global financial crisis (GFC) of 2008-2009, which provides a precautionary motive for saving. Saving through retained earnings is important for the corporate sector as a way of controlling debt in the financing of investment.Saving is important to households, governments and the corporate sector. It allows households and governments to smooth consumption in the face of fluctuations in disposable income. These fluctuations may be foreseen, such as when individuals retire because of old age or when governments foresee budget deficits because of an ageing population. Or they may be unforseen, such as the effects of the global financial crisis (GFC) of 2008-2009, which provides a precautionary motive for saving. Saving through retained earnings is important for the corporate sector as a way of controlling debt in the financing of investment.
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Journal Title
Australian Economic Review
Volume
43
Issue
3
Subject
Economics
Other economics not elsewhere classified