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- W4313856762 abstract "Abstract We investigate whether the “one-child policy” has contributed to the rise in China’s household saving rate and human capital in recent decades. In a life-cycle model with intergenerational transfers and human capital accumulation, fertility restrictions lower expected old-age support coming from children—inducing parents to raise saving and education investment in their offspring. Quantitatively, the policy can account for at least 30% of the rise in aggregate saving. Using the birth of twins under the policy as an empirical out-of-sample check to the theory, we find that quantitative estimates on saving and education decisions line up well with micro-data." @default.
- W4313856762 created "2023-01-10" @default.
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- W4313856762 date "2023-01-09" @default.
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- W4313856762 title "The One-Child Policy and Household Saving" @default.
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- W4313856762 doi "https://doi.org/10.1093/jeea/jvad001" @default.
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