St Louis Fed: Chinese house prices have minimal effect on savings rate
A St Louis Federal Reserve paper published on Friday shows that rising housing prices and living costs do not explain China's high household saving rate.
Xin Wang and Yi Wen, the paper's authors, note that a popular view attributes the high saving rate in China to fast-rising housing prices and other increases in living costs. Xin and Yi use Chinese data on household income, housing prices and demographics to show the effects that rising house prices have on the aggregate household savings rate
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