Demographics and Aggregate Household Saving in Japan, China, and India / Chadwick C. Curtis, Steven Lugauer, Nelson C. Mark.

Format:

Book

Author/Creator:

Curtis, Chadwick C.

Contributor:

National Bureau of Economic Research.

Lugauer, Steven.

Mark, Nelson C.

Series:

Working Paper Series (National Bureau of Economic Research) no. w21555.

NBER working paper series no. w21555

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2015.

Summary:

We present a model of household life-cycle saving decisions in order to quantify the impact of demographic changes on aggregate household saving rates in Japan, China, and India. The observed age distributions help explain the contrasting saving patterns over time across the three countries. In the model simulations, the growing number of retirees suppresses Japanese saving rates, while decreasing family size increases saving for both China and India. Projecting forward, the model predicts lower household saving rates in Japan and China.

Notes:

Print version record

September 2015.