Demographics and aggregate household saving in Japan, China, and India

Chadwick Curtis, Steven Lugauer and Nelson Mark

Journal of Macroeconomics, 2017, vol. 51, issue C, 175-191

Abstract: We use a model of household life-cycle saving decisions 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 a decline in household saving rates in Japan and China.

Keywords: Saving; Demographics; Life-cycle; Japan; China; India (search for similar items in EconPapers)
JEL-codes: E2 J1 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (33)

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Related works:
Working Paper: Demographics and Aggregate Household Saving in Japan, China, and India (2015)
Working Paper: Demographics and Aggregate Household Saving in Japan, China, and India
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:51:y:2017:i:c:p:175-191

DOI: 10.1016/j.jmacro.2017.01.002

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