This paper examines the impact of family size on household saving. We first study a
theoretical life-cycle model that includes finite lifetimes and saving for retirement and in …

China's large-scale reform of state-owned enterprises (SOE) in the late 1990s provides a
natural experiment for estimating precautionary savings. Before the reform, SOE workers …

Facing the challenge of population aging and labor force shrinking, the Chinese government
has been trying to reform its family planning policy since 2015. This paper analyzes the …

We study the impact of the COVID-19 pandemic shock on household consumption in China.
Using household survey data, we find that the proportion of liquidity-constrained households …

We develop and calibrate a life-cycle model of labor supply and consumption to quantify the
implications of alternative pension reforms on labor supply, individual welfare, and …

This paper presents a quantitative assessment of the impact of fertility policy adjustments on
household saving rates using a panel data policy evaluation approach. We examine seven …

This paper analyzes the optimal tax combination using a model that incorporates differential
mortality and human capital accumulation. We calculate the optimal combinations of the …

This paper studies the effect of demographic change on national saving, global interest
rates, and international capital flows, focusing on the role of the public pension system. We …

This paper investigates the macroeconomic impacts of China's population aging using a
global computable general equilibrium model with overlapping generations. Incorporating …

China's mandatory retirement policy requires female workers to retire five years earlier than
their male counterparts. The conventional wisdom behind this policy is that it benefits …