The variable rate-of-growth effect in the life cycle saving model.
The variable rate-of-growth effect in the life cycle saving model.
复制标题
生命周期储蓄模型中的可变增长率效应。
DOI：
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发表时间：
1982
期刊：
影响因子：
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通讯作者：
A. Mason
中科院分区：
文献类型：
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作者：
M. Fry;A. Mason
在生命周期储蓄模型中，实际国民生产总值增长率对总储蓄率有正向影响。这种增长效应总是被估计为储蓄函数中的g系数。我们证明了储蓄率的其他决定因素会影响增长率效应。换句话说，增长的速度效应并不是恒定的。具体地说，金融资产的实际回报率和人口抚养比率决定了在整个生命周期中储蓄的时机，从而改变了增长效应的速度。抚养比率对储蓄率也有影响，储蓄率与g无关，因为它与国外储蓄率一起决定了整个生命周期的储蓄水平。
The rate of growth in real GNP g affects the aggregate saving rate positively in life-cycle saving models. This rate of growth effect is invariably estimated as the coefficient of g in the saving function. We show that other determinants of the saving rate influence the rate of growth effect. In other words, the rate of growth effect is not constant. Specifically, the real rate of return on financial assets and the population dependency ratio determine the timing of saving over the life cycle and, hence, alter the rate of growth effect. The dependency ratio also has an effect on the saving rate which is independent of g because it, together with the foreign saving rate, determines the level of saving over the life cycle.