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Identifier to cite or link to this item: https://hdl.handle.net/10086/16841

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Title
Public Pension and Household Saving: Evidence from urban China
Creator
Creator Name
Feng, Jin Feng, Jin
Affiliation
Affiliation Name
Fudan University
Creator Name
He, Lixin He, Lixin
Affiliation
Affiliation Name
Fudan University
Creator Name
Sato, Hiroshi Sato, Hiroshi
佐藤, 宏 佐藤, 宏
Affiliation
Affiliation Name
Hitotsubashi University
Key Word
pension reform
pension wealth
household saving rate
urban China
JEL
E21
H55
P43
Abstract
We relate household saving to pension reform, to explain the high household saving rates in urban China from a new perspective. We use the exogenous ? policy induced - variation in pension wealth to explicitly estimate the impact of pension wealth on household saving, and obtain a significant offset effect of pension wealth on household saving. Our estimations show that pension reform boosted the household saving rate in 1999 by about 6 percentage points for cohort aged 25-29 and by about 3 percentage points for cohort aged 50- 59. Our results also indicate that declining pension wealth reduces expenditure on education and health more than on other consumption items.
Publisher
International Joint Research Center Fukino Project
Issued Date
2009-02
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Fukino DP Series, No. 009
Number of Pages
35
Sponsorship
Fukino foundation
Appears in Collections
Fukino Project Discussion paper series
URL
https://hdl.handle.net/10086/16841