Do the Rich Save More in Latin America?

Nestor Gandelman

No 6914, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: This paper follows two strategies to address whether the rich save more. First, the paper implements a two-stage procedure in which the household's lifetime income is instrumented with the education level of the household head and the education level of his/her partner. Second, using information on home assets, the paper constructs a wealth index. There is evidence that the richest households save more in Argentina, Bolivia, Brazil, Costa Rica, Ecuador, Honduras, Mexico, Panama, Paraguay and Peru. On the other hand, no differences are found in saving rates by lifetime income or wealth in Bahamas, Chile, Colombia and Uruguay.

Keywords: Median regressions; Latin America; Saving rates; Two-stage procedures (search for similar items in EconPapers)
JEL-codes: C81 D12 E21 (search for similar items in EconPapers)
Date: 2015-04
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Do the rich save more in Latin America? (2017)
Journal Article: Do the rich save more in Latin America? (2017)
Working Paper: Do the rich save more in Latin America? (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:idb:brikps:6914

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