Liu, Zheng; He, Hui; Huang, Feng; Zhu, Dongming - Federal Reserve Bank of San Francisco - 2014
identify and quantify the importance of precautionary savings for wealth accumulation. Before the reform, SOE workers enjoyed … helps us estimate the importance of precautionary savings. In our estimation, we correct a self-selection bias in … savings contribute to about one-third of the wealth accumulations for SOE workers between 1995 and 2002. Precautionary savings …
