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/lp/american-economic-association/demographic-patterns-and-household-saving-in-china-ow52KZlh8T
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- Publisher
- American Economic Association
- Copyright
- Copyright © 2015 by the American Economic Association
- Subject
- Articles
- ISSN
- 1945-7715
- eISSN
- 1945-7715
- DOI
- 10.1257/mac.20130105
- Publisher site
- See Article on Publisher Site
Abstract
Abstract This paper studies how demographic variation affects the aggregate household saving rate. We focus on China because it is experiencing an historic demographic transition and has had a massive increase in household saving. We conduct a quantitative investigation using a structural overlapping generations model that incorporates parental care through support for dependent children and financial transfers to retirees. The saving decisions in the parameterized model mimic many of the features observed in the Chinese household saving rate time series from 1955 to 2009. Demographic change alone accounts for over half of the saving rate increase. (JEL D12, D91, E21, J11, O12, O16, P36 )
Journal
American Economic Journal Macroeconomics – American Economic Association
Published: Apr 1, 2015