Bussière, Matthieu; Kalantzis, Yannick; Lafarguette, Romain - Volkswirtschaftliche Fakultät, … - 2013
This paper examines the role of rising housing prices and borrowing constraints as determinants of China's high household saving rate, especially among young households. Using a life-cycle model of saving behavior in the presence of borrowing constraints, we show that the relationship between...