We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over … the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits … social security benefits for the period 1995-2009. We find that both savings and the labor supply are quantitatively …

China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U … transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among … and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid …

incorporate the effects of macroeconomic uncertainty on private savings behavior. It is shown that the greater the uncertainty in … savings and, other things equal, the larger is the current account surplus. Empirical support for the model is found using …