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dc.contributor.authorChamon, Marcosen_US
dc.contributor.authorPrasad, Eswaren_US
dc.date.accessioned2008-06-04en_US
dc.date.accessioned2010-07-07T11:22:33Z-
dc.date.available2010-07-07T11:22:33Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/34331-
dc.description.abstractFrom 1995 to 2005, the average urban household saving rate in China rose by 8 percentage points, to about one quarter of disposable income. We use household-level data to explain why households are postponing consumption despite rapid income growth. Tracing cohorts over time indicates a virtual absence of consumption smoothing over the life cycle. The age profile of savings has an unusual U-shaped pattern, with saving rates being the highest among the youngest and oldest households. We find that financial underdevelopment, as reflected in constraints on borrowing and low returns on financial assets, partially accounts for this pattern. Moreover, overall saving rates have increased across all demographic groups. We argue that this can be explained by the rising private burden of expenditures on housing, education, and health care.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 3191en_US
dc.subject.jelD12en_US
dc.subject.ddc330en_US
dc.subject.keywordHousehold savingsen_US
dc.subject.keywordage and cohort profiles of savingsen_US
dc.subject.keywordborrowing constraintsen_US
dc.subject.keywordprecautionary savingsen_US
dc.subject.keywordfinancial development, demographicsen_US
dc.subject.stwSparenen_US
dc.subject.stwPrivater Haushalten_US
dc.subject.stwStadtbevölkerungen_US
dc.subject.stwEinkommenshypotheseen_US
dc.subject.stwChinaen_US
dc.titleWhy are saving rates of urban households in China rising?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn551074698en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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