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Leonard Nakamura examines this paradox of low savings accompanied by increased wealth.
Persistent link: https://www.econbiz.de/10005498367
In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China's household survey. We find that China's household saving rate has been high and rising...
Persistent link: https://www.econbiz.de/10005498380
We consider an environment in which individuals receive income shocks that are unobservable to others and can privately store resources. We provide a simple characterization of the efficient allocation in cases in which the rate of return on storage is sufficiently high or, alternatively, in...
Persistent link: https://www.econbiz.de/10005498574
Looking to buy homes in Boston and learn about financial management, almost 200 people have joined "The Network," an intensive IDA program that is entering its second session. Kathleen Gill profiles the IDA.
Persistent link: https://www.econbiz.de/10005498687
The literature on asset accumulation by households draws a sharp distinction between "short-run" precautionary motives to buffer annual consumption from annual labor income shocks, and "long-run" life cycle considerations under labor income certainty. However, empirical estimates of the...
Persistent link: https://www.econbiz.de/10005498861
We will examine the size of the Feldstein and Horioka (1980) "saving-retention coefficient" in a setting of near perfect capital mobility, Japanese regions. We first find that on total regional saving and investment rate data, inclusive of regional government saving and investment, the estimate...
Persistent link: https://www.econbiz.de/10005498890
Japanese government planners use the average age of the manufacturing capital stock as one measure of their country's international "competitiveness." Compared to the U.S., the data show that Japanese depreciation rates are higher and that capital stocks are younger. ; In much of economic...
Persistent link: https://www.econbiz.de/10005498895
When marginal utility of consumption depends on leisure, investors will take this into account when allocating their wealth among different assets. This paper presents a multi-country general equilibrium model driven by productivity shocks, where labor-leisure and consumption are chosen...
Persistent link: https://www.econbiz.de/10005498990