語系:
繁體中文
English
說明(常見問題)
回圖書館首頁
手機版館藏查詢
登入
回首頁
到查詢結果
[ author_sort:"zhang, chi." ]
切換:
標籤
|
MARC模式
|
ISBD
Habit formation and dynamic saving b...
~
Zhang, Chi.
FindBook
Google Book
Amazon
博客來
Habit formation and dynamic saving behavior: Evidence from Taiwan.
紀錄類型:
書目-電子資源 : Monograph/item
正題名/作者:
Habit formation and dynamic saving behavior: Evidence from Taiwan./
作者:
Zhang, Chi.
出版者:
Ann Arbor : ProQuest Dissertations & Theses, : 1996,
面頁冊數:
196 p.
附註:
Source: Dissertations Abstracts International, Volume: 57-11, Section: A.
Contained By:
Dissertations Abstracts International57-11A.
標題:
Economics. -
電子資源:
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9617630
Habit formation and dynamic saving behavior: Evidence from Taiwan.
Zhang, Chi.
Habit formation and dynamic saving behavior: Evidence from Taiwan.
- Ann Arbor : ProQuest Dissertations & Theses, 1996 - 196 p.
Source: Dissertations Abstracts International, Volume: 57-11, Section: A.
Thesis (Ph.D.)--The Johns Hopkins University, 1996.
This item must not be sold to any third party vendors.
This study examines the dynamic saving behavior of Taiwan as a representative of the East Asian Newly Industrialized Countries. Specifically, the study explores why household saving rates increased over time even though individuals expected more wealth in the future due to rapid income growth. This increase is contrary to the prediction of the standard Permanent Income/Life-cycle Hypothesis that larger expected wealth would suppress individual savings. One hypothesis tested using Taiwanese quarterly and annual data is that people have "consumption habits" and respond sluggishly to income growth. Euler equation tests of Taiwanese consumption patterns over time reveal that household consumption growth is positively autocorrelated and can be predicted by past values of other variables as well as by its own lag. The results indicate that consumption growth is smooth and consistent with the consumption habit hypothesis. Reduced form estimation of the saving rate function provides further support for the premise that increases in the household saving rate were caused primarily by the combination of rapid real income growth, especially the unanticipated component of this growth, and slow consumption adjustment due to habit persistence. In addition, it is found that the habit formation specification most utilized in existing studies which assumes a single-period habit formation structure is oversimplified and does not fit the data as well as a more general habit formation model without the single period assumption. The study draws policy implications pertinent to recent criticism of the high saving rate in Taiwan resulting in chronic current account surpluses and accumulation of foreign exchange reserves. The high saving rate resulting from consumers' preference is a blessing to the country. The adjustment of the current account surplus and excessive foreign exchange reserves should be focused on the more productive use of the resources made available by high saving rates, rather than on efforts actually to reduce these savings.Subjects--Topical Terms:
517137
Economics.
Subjects--Index Terms:
China
Habit formation and dynamic saving behavior: Evidence from Taiwan.
LDR
:03094nmm a2200301 4500
001
2270783
005
20200930060208.5
008
220629s1996 ||||||||||||||||| ||eng d
035
$a
(MiAaPQ)AAI9617630
035
$a
AAI9617630
040
$a
MiAaPQ
$c
MiAaPQ
100
1
$a
Zhang, Chi.
$3
1033852
245
1 0
$a
Habit formation and dynamic saving behavior: Evidence from Taiwan.
260
1
$a
Ann Arbor :
$b
ProQuest Dissertations & Theses,
$c
1996
300
$a
196 p.
500
$a
Source: Dissertations Abstracts International, Volume: 57-11, Section: A.
500
$a
Publisher info.: Dissertation/Thesis.
502
$a
Thesis (Ph.D.)--The Johns Hopkins University, 1996.
506
$a
This item must not be sold to any third party vendors.
506
$a
This item must not be added to any third party search indexes.
520
$a
This study examines the dynamic saving behavior of Taiwan as a representative of the East Asian Newly Industrialized Countries. Specifically, the study explores why household saving rates increased over time even though individuals expected more wealth in the future due to rapid income growth. This increase is contrary to the prediction of the standard Permanent Income/Life-cycle Hypothesis that larger expected wealth would suppress individual savings. One hypothesis tested using Taiwanese quarterly and annual data is that people have "consumption habits" and respond sluggishly to income growth. Euler equation tests of Taiwanese consumption patterns over time reveal that household consumption growth is positively autocorrelated and can be predicted by past values of other variables as well as by its own lag. The results indicate that consumption growth is smooth and consistent with the consumption habit hypothesis. Reduced form estimation of the saving rate function provides further support for the premise that increases in the household saving rate were caused primarily by the combination of rapid real income growth, especially the unanticipated component of this growth, and slow consumption adjustment due to habit persistence. In addition, it is found that the habit formation specification most utilized in existing studies which assumes a single-period habit formation structure is oversimplified and does not fit the data as well as a more general habit formation model without the single period assumption. The study draws policy implications pertinent to recent criticism of the high saving rate in Taiwan resulting in chronic current account surpluses and accumulation of foreign exchange reserves. The high saving rate resulting from consumers' preference is a blessing to the country. The adjustment of the current account surplus and excessive foreign exchange reserves should be focused on the more productive use of the resources made available by high saving rates, rather than on efforts actually to reduce these savings.
590
$a
School code: 0098.
650
4
$a
Economics.
$3
517137
653
$a
China
690
$a
0501
710
2
$a
The Johns Hopkins University.
$3
1017431
773
0
$t
Dissertations Abstracts International
$g
57-11A.
790
$a
0098
791
$a
Ph.D.
792
$a
1996
793
$a
English
856
4 0
$u
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9617630
筆 0 讀者評論
館藏地:
全部
電子資源
出版年:
卷號:
館藏
1 筆 • 頁數 1 •
1
條碼號
典藏地名稱
館藏流通類別
資料類型
索書號
使用類型
借閱狀態
預約狀態
備註欄
附件
W9423017
電子資源
11.線上閱覽_V
電子書
EB
一般使用(Normal)
在架
0
1 筆 • 頁數 1 •
1
多媒體
評論
新增評論
分享你的心得
Export
取書館
處理中
...
變更密碼
登入