| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16565 |
| 来源ID | Working Paper 16565 |
| Income Uncertainty and Household Savings in China | |
| Marcos Chamon; Kai Liu; Eswar S. Prasad | |
| 发表日期 | 2010-12-02 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | China's household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped during the 2000s. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we document that strong average income growth has been accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains stable while it is the transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among older households are consistent with a decline in the pension replacement ratio for those retiring after 1997. We conclude that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid-1990s as well as the U-shaped age-saving profile. |
| 主题 | Microeconomics ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Compensation |
| URL | https://www.nber.org/papers/w16565 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574240 |
| 推荐引用方式 GB/T 7714 | Marcos Chamon,Kai Liu,Eswar S. Prasad. Income Uncertainty and Household Savings in China. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16565.pdf（3168KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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