An Empirical Study On The Effects Of Population Age Structure Changes On Household Savings In China

With the continuous development of China's economy,people's life quality and health level gradually improve,coupled with China's family planning policy and child rearing costs continue to rise,making China's population age structure gradually to the direction of aging.The change of population age structure has a great impact on China's macro economy,among them,the influence of population age structure on savings has attracted the attention of many scholars.Changes in population age structure makes the burden of the working population gradually increased,the number of labor force is gradually reduced,in China's social old-age security measures is not perfect,most people choose savings rather than consumption,making China's household savings in an unreasonably high level,lack of intrinsic motivation due to economic development.All the signs indicate that the age structure of population change has caused a lot of problems,and the savings related to the economic development of our country's power,therefore,a correct understanding of the relationship between China's population age structure and household savings,for the formulation of China's macroeconomic policy has important reference significance.The purpose of this paper is to study the effect of population age structure changes on the household savings in China from the empirical point of view.Therefore,this paper research literature of domestic and foreign scholars on the relationship between population age structure and household savings systematically,and points out the problems and needs of the existing research problems to be solved,provides the basis for the following research;then,based on the descriptive analysis of China's population age structure and population changes in savings,with provincial panel data in 1990-2014 of China,construction from the perspective of empirical and comprehensive study of the impact of China's population age structure on household savings PVAR model,and the eastern and Western comparison.In the empirical study,this paper constructs can also study young population,the working age population and the model of the elderly population of the household savings rate is affected;in order to more accurately reflect the relationship between China's population age structure and household savings.In this model,the number and age structure of the population and population as exogenous variables to control the population changes on savings;there is a perplexing relationship between macroeconomic variables into account,this paper also will be economic growth,inflation,investment rate as endogenous variables into the model.According to the research results,the paper alsoputs forward the corresponding policy recommendations.This descriptive study on China's population age structure and household savings status analysis shows that China's population age structure and household saving changes have obvious features,on the current point of view,China's aging fast,high level of savings,and the two obvious regional differences.In this study,an empirical study on China's population age structure on household savings effect shows that China's population age structure is the impact of household savings rate can not be ignored the key factors,among them,young population and labor population ratio influence on household savings rate is significantly positive,while the elderly population proportion of residents savings rate has significant and negative effects.According to the different regional comparative analysis shows that the effect of population age structure on household savings is different in the eastern and Western children: proportion of household savings rate influence coefficient in the eastern region is significantly negative,while in the Midwest has significantly positive impact on people;labor export accounted for savings,are positive in the East and in the Midwest,but the influence coefficient of central region is less than the influence coefficient of the central and western regions;the elderly population accounts for the impact on household savings rate,in the eastern region is positive,but in the Midwest is negative.This is mainly related to their economic environment and other factors.