Demographics and Aggregate Household Saving in Japan, China, and India
Chadwick Curtis (),
Steven Lugauer () and
Nelson Mark ()
No 21555, NBER Working Papers from National Bureau of Economic Research, Inc
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.
JEL-codes: E2 J1 (search for similar items in EconPapers)
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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.
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