| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20527 |
| 来源ID | Working Paper 20527 |
| Precautionary Saving of Chinese and U.S. Households | |
| Horag Choi; Steven Lugauer; Nelson C. Mark | |
| 发表日期 | 2014-09-25 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We employ a model of precautionary saving to study why household saving rates are so high in China and so low in the US. The use of recursive preferences gives a convenient decomposition of saving into precautionary and non precautionary components. This decomposition indicates that over 80 percent of China's saving rate and nearly all of the US saving arises from the precautionary motive. The difference in the income growth rate between China and the US is vastly more important for explaining saving rate differences than differences in income risk. We estimate the preference parameters and find that Chinese and US households are more similar in their attitude toward risk than in their intertemporal substitutability of consumption. |
| 主题 | Macroeconomics ; Consumption and Investment ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w20527 |
| 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/578201 |
| 推荐引用方式 GB/T 7714 | Horag Choi,Steven Lugauer,Nelson C. Mark. Precautionary Saving of Chinese and U.S. Households. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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