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Full-Text Articles in Social and Behavioral Sciences
Micro-Data Evidence On Family Size And Chinese Household Saving Rates, Steven Lugauer, Jinlan Ni, Zichao Yin
Micro-Data Evidence On Family Size And Chinese Household Saving Rates, Steven Lugauer, Jinlan Ni, Zichao Yin
Economics Faculty Publications
This paper examines the impact of family size on household saving. We first study a theoretical life-cycle model that includes finite lifetimes and saving for retirement and in which parents care about the consumption by their dependent children. The model implies a negative relationship between the number of dependent children in the family and the household saving rate. Then, we test the model's implications using new survey data on household finances in China. We use the differential enforcement of the one-child policy across counties to address the possible endogeneity between household saving and fertility decisions in a two-stage …
Planning And Financial Literacy: How Do Women Fare?, Annamaria Lusardi, Olivia S. Mitchell
Planning And Financial Literacy: How Do Women Fare?, Annamaria Lusardi, Olivia S. Mitchell
Dartmouth Scholarship
Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity. This paper uses data from a special module we devised on planning and financial literacy in the 2004 Health and Retirement Study. It shows that women display much lower levels of financial literacy than the older population as a whole. In addition, women who are less financially literate are also less likely to plan …