Jin, Keyu; Guibaud, Stéphane; Coeurdacier, Nicolas - London School of Economics (LSE) - 2011
, more severe in fast-growing countries, can explain three prominent global trends: a divergence in private saving rates … interest rate. Micro-level evidence on the evolution of age-saving profiles in the U.S. and China corroborates our mechanism …. Quantitatively, our model explains about 40 percent of the divergence in aggregate saving rates, and a significant portion of the …