Saving, Growth, and Aging in Taiwan
AbstractThis paper examines issues of household saving, growth. and aging in Taiwan. The Taiwanese patterns of high income growth, declines in fertility, and increases in life expectancy all have implications for life-cycle saving. We use data from fifteen consecutive household income and expenditure surveys. from 1976 to 1990, to examine whether observed profiles of consumption and saving are consistent with life-cycle theory. The patterns of consumption and saving across households of different ages and cohorts appear to be broadly consistent with a life-cycle model. However. the data also indicate that household consumption tracks income closely. and this evidence casts doubt on simple life-cycle theory.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4330.
Date of creation: Apr 1993
Date of revision:
Publication status: published as Angus S. Deaton, Christina Paxson. "Saving, Growth, and Aging in Taiwan," in David A. Wise, editor, "Studies in the Economics of Aging" University of Chicago Press (1994)
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Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
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Other versions of this item:
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
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