Using micro data on expenditure and income for 17 Latin American and Caribbean (LAC) countries, this paper presents stylized facts on saving behavior by age, education, income and place of residence. Counterfactual saving rates are computed by imposing the saving behavior, the population...

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country's saving rate exhibits a rising or non-monotonic pattern. In important...

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition paths of most countries' saving rates exhibit a statistically significant hump-shaped...

This study explores the relationship between demographic factors and saving rates using a panel dataset covering 110 countries between 1963 and 2012. In line with predictions from theory, this paper finds that lower dependency rates and greater longevity increase domestic saving rates. However,...

This paper follows two strategies to address whether the rich save more. First, the paper implements a two-stage procedure in which the household's lifetime income is instrumented with the education level of the household head and the education level of his/her partner. Second, using information...

Latin American countries have long exhibited low levels of saving rates when compared to other countries in relatively similar stages of economic development (e.g., Asian economies). Motivated by this fact, this paper examines the time path of the saving rates between 1970 and 2010 in three...