G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w20527
来源IDWorking 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
URLhttps://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.
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