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Demographics and Aggregate Household Saving in Japan, China, and India

Author

Listed:
  • Chadwick C. Curtis

    (University of Richmond)

  • Steven Lugauer

    (University of Notre Dame)

  • Nelson Mark

    (University of Notre Dame and NBER)

Abstract

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 rates for both China and India. Projecting forward, the model predicts lower saving rates in Japan and China.

Suggested Citation

  • Chadwick C. Curtis & Steven Lugauer & Nelson Mark, "undated". "Demographics and Aggregate Household Saving in Japan, China, and India," GRU Working Paper Series GRU_2016_010, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    • Handle: RePEc:cth:wpaper:gru_2016_010
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    Keywords

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    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • J1 - Labor and Demographic Economics - - Demographic Economics

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