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Abstract
This paper presents a cohort analysis of household income, consumption and saving in New Zealand. It is based on an analysis of unit record data from March years 1984 to 1998 taken from the Household Economic Survey (HES). These data are a series of cross‐sectional surveys rather than a true panel, so we construct synthetic cohorts and use a range of regression models to separate out the effect of age, birth‐year cohort and survey year on income, consumption and saving rates. There appears to be a “V” shaped cohort pattern in household income and saving, such that the age profile of saving shifted down for the cohorts born between 1920 and 1939 relative to the younger and older cohorts studied.
Notes
John Gibson, Department of Economics, Waikato Management School, University of Waikato
Grant Scobie, The Treasury
Acknowledgements: We are grateful to Ivan Tuckwell for assistance with the data and to two anonymous referees and seminar participants at the Treasury, the University of Waikato and the New Zealand Association of Economists Conference in Christchurch for helpful comments.