Saving, Growth, and Aging in Taiwan

47 Pages Posted: 4 May 2011

See all articles by Angus Deaton

Angus Deaton

Princeton University; National Bureau of Economic Research (NBER)

Christina H. Paxson

Princeton University; National Bureau of Economic Research (NBER)

Date Written: April 1993

Abstract

This paper examines issues of household saving, growth. and aging in Taiwan. The Taiwanese patterns of high income growth, declines in fertility, and increases in life expectancy all have implications for life-cycle saving. We use data from fifteen consecutive household income and expenditure surveys. from 1976 to 1990, to examine whether observed profiles of consumption and saving are consistent with life-cycle theory. The patterns of consumption and saving across households of different ages and cohorts appear to be broadly consistent with a life-cycle model. However. the data also indicate that household consumption tracks income closely. and this evidence casts doubt on simple life-cycle theory.

Suggested Citation

Deaton, Angus S. and Paxson, Christina H., Saving, Growth, and Aging in Taiwan (April 1993). NBER Working Paper No. w4330, Available at SSRN: https://ssrn.com/abstract=1829865

Angus S. Deaton (Contact Author)

Princeton University ( email )

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Christina H. Paxson

Princeton University ( email )

316 Wallace Hall
Princeton, NJ 08544
United States
609-258-6474 (Phone)
609-258-5974 (Fax)

National Bureau of Economic Research (NBER)

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United States

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