Life Cycle Earnings and the Household Saving Puzzle in a Fast ...

Keywords: Household saving, age-earning profile, income growth, intertemporal choice, life-cycle model, China. JEL classification: E21, D91, O53.

Time preferences over the life cycle and household saving puzzles

Decreasing discount rates help a canonical life-cycle model explain the saving puzzles of households undersaving when young and oversaving after retirement. •.

A relative answer to the growth–saving puzzle - Wiley Online Library

This paper finds that a standard life-cycle model, even when integrated with uncertainty about future growth and with credit constraints, is ...

The Chinese saving puzzle and the life-cycle hypothesis: A revaluation

Thus, if the economy grows fast, the saving of active people is drawn from much higher income than the income retired people earned when they were themselves ...

Lifecycle Patterns of Saving and Wealth Accumulation

income by age is key to understanding the rapid wealth growth of the highest permanent income ... “Household Income, Demand, and Saving: Deriving. Macro Data with ...

The Chinese Saving Puzzle and the Life-Cycle Hypothesis

In 1994, for example, our estimate of the household saving-to-income ratio in. China was close to 34 percent, rivaling the. Japanese experience in the 1960s, ...

Time Preferences over the Life Cycle and Household Saving Puzzles

For example, experiencing economic dislocation after World. War II, the rapid economic growth in the 1970s or one of the major earthquakes (e.g., the. Great ...

The Life Cycle Model and Household Savings - Conferences | NBER

Keywords: Savings, China's Saving Puzzle, Life-cycle Hypothesis, Demographic ... savings were approximately 5% of total household income.

The Life-Cycle Hypothesis and the Consumption Behavior of the ...

For example, Moon (1977) derives a measure of economic status for the aged from a life-cycle model of saving. She adds to an elderly household's money income ...

China's one-child policy and saving puzzle - CEPR

Since China is growing rapidly, one might expect Chinese households to borrow against their future income. In fact, Chinese households save ...

Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis

households with greater education have faster labor income growth. The dependence of consumption growth on income growth in the buffer-stock model strongly ...

The Chinese Saving Puzzle and the Life-Cycle Hypothesis

In 1994, for example, our estimate of the household saving-to-income ratio in. China was close to 34 percent, rivaling the. Japanese experience in the 1960s, ...

The Retirement-Consumption Puzzle: New Evidence from Personal ...

Obviously, if consumer debt were to smooth consumption and income over the life cycle, it would be U-shaped, not hump-shaped. We find that households not only ...

A Relative Answer to the Growth-Saving Puzzle

... Cycle, Saving Growth, Open Economy Growth, Household Saving, Life ... Figure 6: Household life cycle expenditure and wage, with growth uncertainty ...

The Age-Saving Profile and the Life-Cycle Hypothesis - CSEF

The survey we use is the Bank of Italy SHIW (Survey of Household Income and. Wealth). The purpose of this survey is to provide detailed data on demographics,.

Life Cycle, Individual Thrift, and the Wealth of Nations - jstor

theory of saving by households, see U. Ricci,. 1926.) A. Utility Maximization and the Role of Life Resources (Permanent Income). The hypothesis of utility ...

[PDF] The Chinese Saving Puzzle and the Life-Cycle Hypothesis

China's per capita income ranks below 100th in the world. Its saving rate, however, has been one of the highest worldwide in recent decades.

Saving Behavior and Wealth Accumulation in a Pure Life-Cycle ...

We find that income uncertainty can alter savings patterns over the lifecycle significantly, with the greatest influence on the wealth of young individuals.

Franco Modigliani and the Life Cycle Theory of Consumption

The same argument explains why savings rates rise more rapidly with income among households who are farmers or small- business proprietors, whose income ...

The Chinese Saving Puzzle and the Life-Cycle Hypothesis

Compared with the rapid growth of household income of rural migrant workers, there is still a certain gap between household consumption expenditure and ...