Terada-Hagiwara, Akiko - 2010
From 1994 to 2006, the average household saving rate in the Philippines declined by 5.2 percentage points to about a … mere 5% of disposable income. Using data from income and expenditure survey at the household level, this paper explains why … households' consumption growth had been higher than income growth during this period. Tracing cohorts shows that saving declined …