## Intercountry Life-Cycle Savings Data

## Usage

    data(savings)

## Format

A data frame with 50 observations on 5 variables.

[,1] | sr | numeric | aggregate personal savings
[,2] | pop15 | numeric | % of population under 15
[,3] | pop75 | numeric | % of population over 75
[,4] | dpi | numeric | real per-capita disposable income
[,5] | ddpi | numeric | % growth rate of dpi

## Description

Under the life-cycle savings hypothesis as developed by Franco Modigliani, the savings ratio (aggregate personal saving divided by disposable income is explained by per-capita disposable income, the percentage rate of change in per-capita disposable income, and two demographic variables: the percentage of population less than 15 years old and the percentage of the population over 75 years old. The data are averaged over the decade 1960-1970 to remove the business cycle or other short-term fluctuations.

## Source

The data were obtained from Belsley, Kuh and Welsch (1980). They in turn obtained the data from Sterling (1977).

## References

Sterling, Arnie (1977). Unpublished BS Thesis. Massachusetts Institute of Technology.

Belsley, D. A., E. Kuh and R. E. Welsch (1980). Regression Diagnostics. New York: Wiley.

[Package Contents]