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Does Public Employment Affect Household Saving Rates? Evidence from Chinese Household Data

Can Xu and Andreas Steiner

No 9741, CESifo Working Paper Series from CESifo

Abstract: This paper investigates the impact of public employment on household saving rates in China using representative household-level data. After controlling for a series of variables such as income, risk attitude, financial literacy, and demographic factors, we show that households headed by public employees have higher saving rates than other households. This positive association holds after controlling for self-selection bias. Public employees are more likely to save for their children and they have a higher saving capacity than non-public employees due to better social security. Our results contribute to a better understanding of Chinese household saving rates, which is of great importance given their extremely high level in international comparison.

Keywords: public employment; household saving rates; Chinese economy (search for similar items in EconPapers)
JEL-codes: D14 E24 G51 H31 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-cna, nep-fle, nep-lab, nep-mac and nep-tra
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