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In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a … China’s household saving rate has been high and rising and that the main determinants of variations over time and over space … therein are the lagged saving rate, the income growth rate, (in many cases) the real interest rate, and (in some cases) the …
Persistent link: https://www.econbiz.de/10003397467
question in the context of an entire life-cycle model. Specifically, we identify the importance of different saving motives by …A major challenge in the study of saving behavior is how to disentangle different motives for saving. We approach this … the estimated model to evaluate the contribution of life-cycle, bequest, and precautionary motives to total savings. We …
Persistent link: https://www.econbiz.de/10012835785
In this paper, we present data on trends over time in domestic saving rates in twelve economies in developing Asia … during the 1966-2007 period and analyze the determinants of these trends. We find that domestic saving rates in developing … dependency ratio), income levels, and the level of financial sector development. We then project future trends in domestic saving …
Persistent link: https://www.econbiz.de/10013118932
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We study time preferences by means of a longitudinal lab experiment involving both monetary and non-monetary rewards (leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without imposing any structural assumption on the instantaneous...
Persistent link: https://www.econbiz.de/10013216566
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We analyse life-cycle saving decisions when households use simple heuristics, or rules of thumb, rather than solve the … underlying intertemporal optimization problem. We simulate life-cycle saving decisions using three simple rules and compute … following simple decision rules are relatively low. Moreover, the two main saving motives re ected by the canonical life-cycle …
Persistent link: https://www.econbiz.de/10010427609
We demonstrate that upward-looking comparisons induce "keeping up with the richer Joneses"-behavior. Using data from the German Socio-Economic Panel, we estimate the effect of reference consumption, defined as the consumption level of all households who are perceived to be richer, on household...
Persistent link: https://www.econbiz.de/10010491182