We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over … social security benefits for the period 1995-2009. We find that both savings and the labor supply are quantitatively … adjustment to savings and labor supply have significant macroeconomic implications. Applying the model to China, we find that the …

Expanding from Veblen's conspicuous consumption theory, this paper provides new explanations on China's household … a greater degree of openness all depress household saving, likely through higher conspicuous consumption. This result is …