Does the saving behaviour of the european countries indicate the similar tendencies or can they be grouped regarding their saving behaviour?

Abstract

Saving behaviours of countries are shaped with the effects of the some elements as social policies, age structures, cultures, and so forth. Inherently these elements change country to country. Since the possible European countries saving behaviour variation can be seen as a striking issue, the paper aims to explore and classify the different structured countries. For the purpose the classification process is based on Modigliani's life-cycle model and performed with robust approach.Life-cycle savings model, outlying European countries for saving comparison, robust outlier detection.