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El Ahorro De Los Hogares En Colombia

Listed author(s):
  • Ligia Melo B.


  • Héctor Zárate S.


  • Juana Tellez C.


En este documento se presenta un análisis del comportamiento del ahorro de los hogares y sus determinantes, considerando una perspectiva de largo plazo para el periodo 1950-2004 y una de corto plazo a nivel microeconómico, utilizando la información de las encuestas de calidad de vida de 1997 y 2003. A nivel agregado, con base en un análisis de cointegración se encontró una relación de largo plazo entre la tasa de ahorro de los hogares, el PIB per-cápita, los impuestos directos y una medida de profundización financiera. A nivel microeconómico, se realiza un análisis de las tasas de ahorro agrupadas por diferentes características socioeconómicas de los hogares y para diferentes definiciones de ahorro considerando la inversión en capital humano y la compra de bienes durables. Adicionalmente, se presenta un análisis del comportamiento del ahorro a partir de la hipótesis del ciclo de vida, utilizado los perfiles de ahorro por año de nacimiento del jefe del hogar. Los resultados muestran que tanto el ingreso como el consumo registran un comportamiento de U invertida, sugiriendo que para el caso Colombiano no hay evidencia de que se cumpla la hipótesis del ciclo de vida. Finalmente, al comparar los datos de ahorro de los hogares a nivel agregado, con los datos obtenidos a partir de la información de las encuestas se encuentran diferencias que se pueden explicar por razones metodológicas y por el cambio en la distribución de los ingresos y de los gastos registrado entre 1997 y 2003.

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Paper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number 428.

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Handle: RePEc:bdr:borrec:428
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  1. Bayoumi, Tamim, 1993. "Financial Deregulation and Household Saving," Economic Journal, Royal Economic Society, vol. 103(421), pages 1432-1443, November.
  2. Martin Browning & Thomas Crossley, 2001. "The life-cycle model of consumption and saving," IFS Working Papers W01/15, Institute for Fiscal Studies.
  3. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Discussion Papers 96-01, University of Copenhagen. Department of Economics.
  4. Philippe Aghion & Diego Comin & Peter Howitt & Isabel Tecu, 2016. "When Does Domestic Savings Matter for Economic Growth?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(3), pages 381-407, August.
  5. Orazio P. Attanasio, 1993. "A Cohort Analysis of Saving Behavior by U.S. Households," NBER Working Papers 4454, National Bureau of Economic Research, Inc.
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