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Age Structure and the Personal Savings Rate in the United States, 1956‐1995

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  • John Thornton

Abstract

Cointegration techniques are applied to time series data on the personal savings rate and the age structure of the population in the United States over the period 1956‐1995. The personal savings rate is cointegrated with the ratios of minors and of retired persons to the working‐age population and both of these ratios had a negative and significant impact on the personal savings rate. The results support the life‐cycle hypothesis of savings.

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  • John Thornton, 2001. "Age Structure and the Personal Savings Rate in the United States, 1956‐1995," Southern Economic Journal, John Wiley & Sons, vol. 68(1), pages 166-170, July.
    • Handle: RePEc:wly:soecon:v:68:y:2001:i:1:p:166-170
    DOI: 10.1002/j.2325-8012.2001.tb00405.x
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    References listed on IDEAS

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    1. Gary S. Becker & H. Gregg Lewis, 1974. "Interaction between Quantity and Quality of Children," NBER Chapters, in: Economics of the Family: Marriage, Children, and Human Capital, pages 81-90, National Bureau of Economic Research, Inc.
    2. Willis, Robert J, 1973. "A New Approach to the Economic Theory of Fertility Behavior," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages 14-64, Part II, .
    3. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    4. Willi Leibfritz & John Thornton & Alexandra Bibbee, 1997. "Taxation and Economic Performance," OECD Economics Department Working Papers 176, OECD Publishing.
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    Cited by:

    1. Ha, Nguyen Thi Thu & Hoa, Lam Ba, 2018. "On the Causality Relationship between Demographic Changes, Economic Growth and Domestic Savings in Vietnam," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(2), pages 27-38.
    2. Neha Jain & Srinivas Goli, 2022. "Demographic change and private savings in India," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 24(1), pages 1-29, June.

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