| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP203
|
| DP203 Savings Behaviour, Fertility and Economic Development in Nineteenth Century Britain and America |
| Paul A Johnson
|
| 发表日期 | 1987-11-01
|
| 出版年 | 1987
|
| 语种 | 英语
|
| 摘要 | This paper reviews evidence that life-cycle saving became the norm in nineteenth-century America, with a consequent fall in fertility and rise in the rate of capital formation, and considers whether a similar transition to life-cycle saving can be observed in nineteenth-century Britain. Although there is extensive evidence of widespread saving by British workers, most of this saving did not fit a life-cycle pattern. Liquidity constraints forced British workers to borrow, buy on credit, save only for short-run ends, and abstain from long-run accumulation. The paper concludes that some of the apparent difference between the savings behaviour of British and American workers may be the result of a misreading of United States evidence, some may be due to differences in old-age welfare systems, but that the most plausible explanation is that the real income of British workers in this period was substantially below that of their American counterparts. |
| 关键词 | Britain
Life-cycle saving
Liquidity constraints
Nineteenth century
Pension systems
United states
|
| URL | https://cepr.org/publications/dp203
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529359
|
推荐引用方式
GB/T 7714 |
Paul A Johnson. DP203 Savings Behaviour, Fertility and Economic Development in Nineteenth Century Britain and America. 1987.
|
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