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Household consumption and saving beh...

Chen, Chien-Liang,

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Household consumption and saving behavior: Evidence from Taiwanese household surveys /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Household consumption and saving behavior: Evidence from Taiwanese household surveys // Chien-Liang Chen.
作者:	Chen, Chien-Liang,
面頁冊數:	1 electronic resource (186 pages)
附註:	Source: Dissertations Abstracts International, Volume: 57-06, Section: A.
Contained By:	Dissertations Abstracts International57-06A.
標題:	Families & family life. -
電子資源:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9601400
ISBN:	9798208431719

Household consumption and saving behavior: Evidence from Taiwanese household surveys /
Chen, Chien-Liang,

Household consumption and saving behavior: Evidence from Taiwanese household surveys /Chien-Liang Chen. - 1 electronic resource (186 pages)

Source: Dissertations Abstracts International, Volume: 57-06, Section: A.

Knowledge about the mechanisms underlying household resource allocation for consumption and savings is important in exploring the dynamics of household decision making. While many studies on these issues have appeared over the years, we still know relatively little about the determinants and the patterns of household consumption and saving behavior. Based on microeconomic data from an annual household survey collected over the last two decades (1976-1992), this dissertation documents the consumption and saving behavior of Taiwanese households and studies how they respond to rapid economic and social transformations. By compiling the cross-sectional time series data into synthetic cohorts and following one cohort at a time, we estimate the savings propensity of the households and examine the relationship between savings and income, inflation, and demographic variables. The results show that the Permanent Income Hypothesis (Friedman, 1957) is consistent with our data, predicting that the average marginal propensity to save is.39 for transitory income increases and is.28 for permanent income increases. This reflects the fact that saving rates in Taiwan are very high. Furthermore, the inflation tax on real balance holdings is important; a 1% increase in inflation rate stimulates savings by.2% to.5% of household income, depending on the income of the cohorts. It has been gradually acknowledged among economists that the assumption of household members sharing the same utility functions (the common preference model) or household resource allocation being determined by a dictator (the dictator preference model) is not supported by empirical data (Browning, Bourguignon, Chiappori and Lechene (1993a, 1993b); Thomas (1990, 1993)). As with most empirical works on this issue, the second part of the dissertation uses one year cross-sectional data (1980) to test the common preference model and its implications. We find that the individualistic preference model is consistent with our data and that household resource allocations are Pareto efficient, whereas consumption decisions are not made by a dictator. This leads to the question of how the allocation mechanisms of households evolve over time and over the life cycle. The third part of the dissertation proposes new dimensions to characterize the patterns of the resource allocation mechanisms that take time factors into consideration. Within the framework of the intrahousehold allocation model, the major findings of chapter 4 are four fold. Firstly, the common preference model is not supported by our data (1976-1992). Secondly, the individual preferences of the couples emerge and then diverge along with the process of economic development. Thirdly, the mechanism of household budget allocation is "age dependent" and "life cycle dependent". Lastly, rapid industrialization is characterized by obvious changes in the preference patterns of female heads and little change in those of male heads.

English

ISBN: 9798208431719Subjects--Topical Terms:

3422406
Families & family life.
Subjects--Index Terms:

China

Household consumption and saving behavior: Evidence from Taiwanese household surveys /
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