| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w20057
|
| 来源ID | Working Paper 20057
|
| Co-residence, Life-Cycle Savings and Inter-generational Support in Urban China |
| Mark Rosenzweig; Junsen Zhang
|
| 发表日期 | 2014-04-17
|
| 出版年 | 2014
|
| 语种 | 英语
|
| 摘要 | We use unique data characterizing individual savings for twins and non-twins in urban China to examine why the savings rates of the young are elevated relative to the middle-aged, despite rising individual life-cycle incomes. We show that inter-generational co-residence masks the true life-cycle patterns of individual savings in standard Chinese household data sets, which are aggregated at the household level. Moreover, we show that to understand life-cycle savings behavior it is necessary to take into account inter-generational co-residence, an important phenomenon in China and in many developing countries. To test a model that describes joint life-cycle savings and co-residence decisions by two generations, we use a variety of standard twins methods. The estimates provide support for the model, including that individuals born into larger families provide less financial support to parents and are more likely to co-reside with parents when young, but do not have different savings rates. We also found that inter-generational co-residence is lower the higher the incomes of the young but higher when the parents have higher incomes and that inter-generational co-residence, net of income, is associated with higher savings for the young but not higher savings for the old. Our results highlight the importance of high housing costs and the prevalence of inter-generational shared housing as key reasons for the higher savings rates for the urban young in China, but also indicate that in urban China neither old-age support by the young nor the one-child policy are major factors. |
| 主题 | Microeconomics
; Households and Firms
; Labor Economics
; Demography and Aging
; Development and Growth
; Development
|
| URL | https://www.nber.org/papers/w20057
|
| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577731
|
推荐引用方式
GB/T 7714 |
Mark Rosenzweig,Junsen Zhang. Co-residence, Life-Cycle Savings and Inter-generational Support in Urban China. 2014.
|
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