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

Listed author(s):
  • Chadwick C. Curtis
  • Steven Lugauer
  • Nelson C. Mark

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.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 21555.

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Date of creation: Sep 2015
Publication status: published as Curtis, Chadwick C. & Lugauer, Steven & Mark, Nelson C., 2017. "Demographics and aggregate household saving in Japan, China, and India," Journal of Macroeconomics, Elsevier, vol. 51(C), pages 175-191.
Handle: RePEc:nbr:nberwo:21555
Note: AG CH DEV IFM
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