06647oam 22012134 450 991081369320332120200520144314.01-4623-1241-11-4527-6926-597866128409681-282-84096-71-4518-7003-5(CKB)3170000000055047(EBL)1607902(SSID)ssj0000940722(PQKBManifestationID)11571963(PQKBTitleCode)TC0000940722(PQKBWorkID)10956002(PQKB)10816613(OCoLC)568151330(IMF)WPIEE2008145(MiAaPQ)EBC1607902(IMF)WPIEA2008145(EXLCZ)99317000000005504720020129d2008 uf 0engur|n|---|||||txtccrWhy are Saving Rates of Urban Households in China Rising? /Marcos Chamon, Eswar Prasad1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (51 p.)IMF Working Papers"June 2008."1-4519-1456-3 Includes bibliographical references (p. 48-49).Contents; I. Introduction; II. Data; III. Stylized Facts; IV. Demographic Determinants of Household Saving Behavior; V. Potential Explanations; A. Habit Formation; B. Shifts in Social Expenditures; C. Durables Purchases and Savings; D. Housing Purchases and Savings; E. Effects of State Enterprise Restructuring on Saving Behavior; F. Target Savings; V. A Composite Sketch; VI. Discussion and Implications for Aggregate Saving Patterns; Appendix; Text Tables; 1. Summary Statistics; 2. Representativeness of 10 Provinces/Municipalities Sub-Sample; 3. Consumption Growth and Habit Formation4. Ownership of Durable Goods per 100 Urban Households5. Home Purchase and Construction Expenditure Financed by Saving Withdrawals ..; 6. Type of Employer for Households With a Head in the Age Range 25-59; 7. Median Regressions for the Saving Rate; 8. Median Regressions for the Saving Rate Including Imputed Value of Owner Occupied Housing; Appendix Tables; A1. Saving Rates and Household Income in Household Surveys and National Accounts; A2. Breakdown of Consumption Expenditures Across Different Categories; Text Figures; 1. Contributions to Gross Domestic Savings as a Percentage of GDP2. Saving Rate and Share of Total Savings by Income Quintile3. Average Disposable Income and Consumption by Age of Head of Household; 4. Income and Consumption for Different Cohorts Over Time; 5. Average Saving Rates by Age of Head of Household; 6. Age, Cohort, and Year Effects on Income, Consumption and Saving Rates; 7. Average and Standard Deviation of the Shares of Consumption Expenditure on Education and Health as a Function of Age of the Head of the Household; 8. Home Ownership by Age of the Head of Household; 9. Age Distribution of the Chinese Population: Estimates and ProjectionsAppendix FiguresA1. Aggregate Saving Rate in an OLG Model with Credit Constraints as a Function of Geometric Growth Rate of Wages; A2. Aggregate Saving Rate in an OLG Model with Credit Constraints as a Function of Geometric Growth Rate of Wages and the Credit Constraint; ReferencesFrom 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to ¼ of disposable income. We use household-level data to explain the postponing of consumption despite rapid income growth. Tracing cohorts over time indicates virtually no consumption smoothing over the life cycle. Saving rates have increased across all demographic groups, although the age-profile of savings has an unusual U-shaped pattern, with saving rates being the highest among the youngest and oldest households in recent years. These patterns are best explained by the rising private burden of expenditures on housing, education, and health care.IMF Working Papers; Working Paper ;No. 2008/145Saving and investmentChinaEconometric modelsHouseholdsEconomic aspectsChinaEconometric modelsAggregate Factor Income DistributionimfAgingimfConsumptionimfDemographyimfDisposable incomeimfEconomic Development: Urban, Rural, Regional, and Transportation AnalysisimfEconomics of the ElderlyimfEconomics of the HandicappedimfEconomicsimfHousingimfIncomeimfInfrastructureimfMacroeconomicsimfMacroeconomics: ConsumptionimfNational incomeimfNon-labor Market DiscriminationimfPersonal Income, Wealth, and Their DistributionsimfPopulation & demographyimfPopulation agingimfSaving and investmentimfSavingimfWealthimfChinaEconomic conditions1976-2000Econometric modelsChinaEconomic conditions2000-Econometric modelsChina, People's Republic ofimfSaving and investmentEconometric models.HouseholdsEconomic aspectsEconometric models.Aggregate Factor Income DistributionAgingConsumptionDemographyDisposable incomeEconomic Development: Urban, Rural, Regional, and Transportation AnalysisEconomics of the ElderlyEconomics of the HandicappedEconomicsHousingIncomeInfrastructureMacroeconomicsMacroeconomics: ConsumptionNational incomeNon-labor Market DiscriminationPersonal Income, Wealth, and Their DistributionsPopulation & demographyPopulation agingSaving and investmentSavingWealth338.28345Chamon Marcos1090692Prasad Eswar124415International Monetary Fund.Research Dept.DcWaIMFBOOK9910813693203321Why are Saving Rates of Urban Households in China Rising4038210UNINA