Household Saving Behaviour in an Extended Life Cycle Model: A Comparative Study of China and India
利用扩展的生命周期模型，研究中国和印度过去几十年的家庭储蓄决定因素，发现收入增长促进储蓄、年龄抚养比抑制储蓄，而通胀和预期养老金收益对两国影响不同。
Abstract This paper examines the determinants of household saving in China and India over the last few decades using the life cycle model, with appropriate modifications to account for the expected benefits of pension saving. Consistent with the predictions made in the life cycle model, higher income growth promotes more household saving, and higher age dependency does the opposite. An increase in the inflation rate appears to encourage household saving. Interestingly, the evidence suggests that an increase in expected pension benefits tends to discourage household saving in China in the long run, but the reverse is found in India.