Breaking the "iron rice bowl:" Evidence of precautionary savings from the chinese state-owned enterprises reform

doi:10.1016/j.jmoneco.2017.12.002

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	Breaking the "iron rice bowl:" Evidence of precautionary savings from the chinese state-owned enterprises reform
	He, Hui 1,5; Huang, Feng 2,3; Liu, Zheng 4; Zhu, Dongming 2,3
刊名	JOURNAL OF MONETARY ECONOMICS
	2018-04
卷号	94 页码:94-113
关键词	Precautionary savings China's SOE reform Natural experiment Self-selection bias Difference-in-differences methods
ISSN号	0304-3932
DOI	10.1016/j.jmoneco.2017.12.002
英文摘要	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 enjoyed similar job security as government employees. The reform caused massive SOE layoffs, but government employees kept their "iron rice bowl." The changes in the relative unemployment risks for SOE workers provide a clean identification of income uncertainty. With self-selection biases mitigated by focusing on government assigned jobs, precautionary savings account for about 40 percent of SOE households' wealth accumulation. Moreover, demographic groups more vulnerable to the reform also accumulated more precautionary wealth. (C) 2017 Elsevier B.V. All rights reserved.
WOS研究方向	Business & Economics
语种	英语
出版者	ELSEVIER SCIENCE BV
WOS记录号	WOS:000433017200006
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/647]
专题	上海财经大学
通讯作者	Liu, Zheng
作者单位	1.Int Monetary Fund, Washington, DC USA; 2.Shanghai Univ Finance & Econ, Sch Econ, Shanghai, Peoples R China; 3.Shanghai Univ Finance & Econ, Key Lab Math Econ, Shanghai, Peoples R China; 4.Fed Reserve Bank San Francisco, 101 Market St, San Francisco, CA 94105 USA; 5.Shanghai Jiao Tong Univ, Shanghai Adv Inst Finance, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	He, Hui,Huang, Feng,Liu, Zheng,et al. Breaking the "iron rice bowl:" Evidence of precautionary savings from the chinese state-owned enterprises reform[J]. JOURNAL OF MONETARY ECONOMICS,2018,94:94-113.
APA	He, Hui,Huang, Feng,Liu, Zheng,&Zhu, Dongming.(2018).Breaking the "iron rice bowl:" Evidence of precautionary savings from the chinese state-owned enterprises reform.JOURNAL OF MONETARY ECONOMICS,94,94-113.
MLA	He, Hui,et al."Breaking the "iron rice bowl:" Evidence of precautionary savings from the chinese state-owned enterprises reform".JOURNAL OF MONETARY ECONOMICS 94(2018):94-113.