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China and Global Development Seminar Series

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Hong Kong Institute of Economics and Business Strategy

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Institute for China and Global Development

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jointly present

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The Size of Precautionary Household Saving in China


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by Professor Nelson Mark

DeCrane Professor of Economics

at University of Notre Dame

 

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March 14, 2012 (Wednesday)

11:30 a.m. to 1:00 p.m.

 

Room 602, Meng Wah Complex

The University of Hong Kong

Pokfulam Road, Hong Kong

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To view Prof. Mark's presentation slides, please click here.

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Remarks:  Non-HKU staff/students who are interested in attending this seminar, please register with Ms. Anna Yip by sending your full name, affiliation and contact details to info@hiebs.hku.hk.  For enquiries, please call 2547 8472. 

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Abstract

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The household saving rate in China is currently about 30 percent. This paper argues that the precautionary motive accounts for 2/3 of this saving. We find that the saving rate is increasing in the intertemporal elasticity of substitution. We also find that the saving rate is increasing in the growth rate of "labor income" and provide an explanation for why saving rates tend to be high in fast growing economies.

 

About the Speaker  

Prof. Mark has been appointed as the DeCrane Professor of International Economics at the University of Notre Dame since 2003. He has been a Concurrent Professor of Finance in the University of Notre Dame and a fellow in the Kellogg Institute for International Studies since 2003. He is a research associate working on the International Finance and Macroeconomics Program in National Bureau of Economic Research, and an international research fellow for the Kiel Institute for the World Economy. He is also the North American Editor of Pacific Economic Review. He was a faculty member of Department of Economics in Ohio State University during 1983-2002. He got his Ph.D. in Economics from the University of Chicago. His research interests are in the areas of international macroeconomics and exchange rate economics. He also teaches in the fields of time-series econometrics, and money, banking, and financial markets.

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