International Comparisons of Household Saving by James M. Poterba

By James M. Poterba

Governments and companies may possibly chip in, yet around the globe houshold saving is the largest consider nationwide saving. to raised comprehend why saving premiums range throughout international locations, this quantity offers the main up to date analyses of styles of family saving habit in Canada, Italy, Japan, Germany, the uk, and the USA. all the six chapters examines micro info units of loved ones saving inside a specific state and summarizes facts on styles of saving via age, source of revenue, and different demographic components. The authors offer age-earning profiles and analyses of the buildup of wealth over the lifetime in a transparent method that enables speedy comparisons among incomes, intake, and saving within the six international locations. Designed as a spouse to Public regulations and family Saving (1994), which addresses saving regulations within the G-7 international locations, this quantity bargains particular descriptions of saving habit in all G-7 international locations other than France.

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3. -I H B 20000 10000 I 25 I 35 I I 55 45 I 65 I 75 Age Fig. 9 Quantiles for total consumption Note: The bandwidth is 7 for panels (A) and (B), and 9 for (C). (A) cohort and smoothed medians. ( B ) Kernel-smoothed quantiles. (C) Kernel-smoothed quantiles using an adultequivalent scale. Health Expenditures20 Figure 1 . 1 2 shows that median health expenditures have a hump-shaped age profile, peaking at about age 45. The hump is very similar to, and is essentially explained by, that in family size.

OAS and GIs) are financed out of general revenue we can trace only contributions to C/QPP. Over our data period, employee contribution rates have been about 2 percent of earnings up to a three-year moving average of the average industrial wage, roughly $550 per annum. 7A show that rates have been rising over time. Contributions to Other Pension Plans (not RRSPs)19 About one-half of all employees are members of private pension plans. In the FAMEX data median contributions are zero, or very close to zero, for all years 1978-90.

Tax poiicies that redistribute income across low- and high-income households within age groups, rather than policies that redistribute across households with similar incomes but different ages, are more likely to affect aggregate saving. Other important themes have emerged. For example, there is a general message that it is not safe to assess age patterns of consumption, saving, or wealth holding using isolated cross-sectional data. While this is not the case for all variables, cohort and year effects are often quite strong.

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