Do the rich save more in Latin America?

Nestor Gandelman

No 102, Documentos de Investigación from Universidad ORT Uruguay. Facultad de Administración y Ciencias Sociales

Abstract: In this paper we follow two strategies to address whether the rich save more. First, we implement a two stage procedure were we instrument the household’s lifetime income with the education level of the household head and the education level of its partner. Second, using information on home assets we construct a wealth index. We find evidence that the richest save more in Argentina, Bolivia, Brazil, Costa Rica, Ecuador, Honduras, Mexico, Panama, Paraguay and Peru. On the other hand, we do not find differences in saving rates by lifetime income or wealth in Bahamas, Chile, Colombia and Uruguay.

Keywords: saving rates; two stage procedures; median regressions; Latin America (search for similar items in EconPapers)
JEL-codes: C81 D12 D14 E21 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2015-03
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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:avs:wpaper:102

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