HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS

Saving behavior at the household level in Chile has not been analyzed in recent decades. Based on 1988 and 1996-1997 Chilean microeconomic evidence (Household Budget Survey), this article studies household saving behavior. The analysis is extended to include broader definitions of saving such as inv...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	BUTELMANN,ANDREA, GALLEGO,FRANCISCO
Lenguaje:	English
Publicado:	Instituto de Economía, Pontificia Universidad Católica de Chile 2001
Materias:	household saving life cycle hypothesis Chile consumption, saving
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212001011300001
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:scielo:S0717-68212001011300001
record_format	dspace
spelling	oai:scielo:S0717-682120010113000012002-04-09HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESISBUTELMANN,ANDREAGALLEGO,FRANCISCO household saving life cycle hypothesis Chile consumption, saving Saving behavior at the household level in Chile has not been analyzed in recent decades. Based on 1988 and 1996-1997 Chilean microeconomic evidence (Household Budget Survey), this article studies household saving behavior. The analysis is extended to include broader definitions of saving such as investment in human capital and durable goods purchases. Income and permanent characteristics such as education are shown to be important determinants of the rate of household saving. Furthermore, we find an income/expenditure parallelism and positive saving rates for the elderly. At a first stage of analysis, these facts contradict the predictions of the life cycle theory, but some corrections (using demographic corrections and a different treatment of pensions) change these preliminary conclusions. Differences in credit constraints faced by different groups are studied for their likely effects on consumption smoothing. Finally, in order to study in more detail the predictions of the Life Cycle Hypothesis, saving rates of the elderly are analyzed focusing on their contradictory role found in macro and micro studiesinfo:eu-repo/semantics/openAccessInstituto de Economía, Pontificia Universidad Católica de ChileCuadernos de economía v.38 n.113 20012001-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212001011300001en10.4067/S0717-68212001011300001
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	household saving life cycle hypothesis Chile consumption, saving
spellingShingle	household saving life cycle hypothesis Chile consumption, saving BUTELMANN,ANDREA GALLEGO,FRANCISCO HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS
description	Saving behavior at the household level in Chile has not been analyzed in recent decades. Based on 1988 and 1996-1997 Chilean microeconomic evidence (Household Budget Survey), this article studies household saving behavior. The analysis is extended to include broader definitions of saving such as investment in human capital and durable goods purchases. Income and permanent characteristics such as education are shown to be important determinants of the rate of household saving. Furthermore, we find an income/expenditure parallelism and positive saving rates for the elderly. At a first stage of analysis, these facts contradict the predictions of the life cycle theory, but some corrections (using demographic corrections and a different treatment of pensions) change these preliminary conclusions. Differences in credit constraints faced by different groups are studied for their likely effects on consumption smoothing. Finally, in order to study in more detail the predictions of the Life Cycle Hypothesis, saving rates of the elderly are analyzed focusing on their contradictory role found in macro and micro studies
author	BUTELMANN,ANDREA GALLEGO,FRANCISCO
author_facet	BUTELMANN,ANDREA GALLEGO,FRANCISCO
author_sort	BUTELMANN,ANDREA
title	HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS
title_short	HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS
title_full	HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS
title_fullStr	HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS
title_full_unstemmed	HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS
title_sort	household saving in chile (1988 and 1997): testing the life cycle hypothesis
publisher	Instituto de Economía, Pontificia Universidad Católica de Chile
publishDate	2001
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212001011300001
work_keys_str_mv	AT butelmannandrea householdsavinginchile1988and1997testingthelifecyclehypothesis AT gallegofrancisco householdsavinginchile1988and1997testingthelifecyclehypothesis
_version_	1718442363809955840

HOUSEHOLD SAVING IN CHILE (1988 AND 1997): TESTING THE LIFE CYCLE HYPOTHESIS

Ejemplares similares