한국의 개인 연령별 저축률 추정

초록

We estimate the age profile of saving rates for individuals in Korea by converting the household income and consumption to individual income and consumption. The result shows that the age profile of saving rates for individuals has a hump shape with the saving rate reaching the peak at around the age 55 and gradually declining thereafter. Such an age profile of saving rates conforms the prediction of the life-cycle income theory of consumption. Such a finding implies that use of the household data to estimate the age profile of saving rates is subject to the sampling bias problem. Using the estimated age profile, we estimate the effect of population aging on the aggregate private saving rates in Korea. The result shows that the aggregate private saving rate will decline by 3.2～44 percentage points as a result of population aging in Korea.

키워드