“The chinese saving rate: Long-term care risks, family insurance, and demographics”

“The chinese saving rate: Long-term care risks, family insurance, and demographics”

Ayşe İmrohoroğlu and Kai Zhao

In: Journal of Monetary Economics, Vol 96, June 2018, Pages 33-52

A general equilibrium model that properly captures the risks in old age, the role of family insurance, changes in demographics, and the productivity growth rate is capable of generating changes in the national saving rate in China that mimic the data well.