Publication:
Population Aging and Households’ Saving in the Russian Federation

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dc.contributor.authorSimone, Schotte
dc.contributor.authorBussolo, Maurizio
dc.contributor.authorMatytsin, Mikhail
dc.date.accessioned2015-11-05T19:02:07Z
dc.date.available2015-11-05T19:02:07Z
dc.date.issued2015-10
dc.description.abstractUsing household data from the Russian Longitudinal Monitoring Survey, this paper assesses how aging affects saving. To overcome a systematic bias against the life-cycle hypothesis of survey data, the paper estimates how the age profile of saving changes when the micro data are corrected to account for the contribution to pensions (as additional saving) and receipt of benefits from pensions (as dissaving). With these corrections, the Russian data support the life-cycle hypothesis. A small decline in the aggregate saving rate, because of aging, can thus be expected. However, since aggregate saving rates result from a combination of age and cohort effects, this decline may not be significant. When extrapolating the rising trends of the cohort effect, the fact that younger generations are earning and saving more than older generation at the same age, the projection shows a growing aggregate saving rate. The changes in saving of future cohorts, for example because of changes in the growth rate of the economy, can affect the aggregate saving rate even more than aging.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/10/25159413/population-aging-households’-saving-russian-federation
dc.identifier.doi10.1596/1813-9450-7443
dc.identifier.urihttps://hdl.handle.net/10986/22874
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 7443
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectGROWTH RATES
dc.subjectNATIONAL CURRENCY
dc.subjectSAVINGS RATIO
dc.subjectDEFICIT
dc.subjectHOLDING
dc.subjectNATIONAL SAVING
dc.subjectFUTURE GROWTH
dc.subjectCONSUMER DURABLES
dc.subjectINCOME FLOWS
dc.subjectFOREIGN CURRENCY
dc.subjectACCOUNTING
dc.subjectHOUSEHOLD’ SAVING
dc.subjectMICRODATA
dc.subjectDISPOSABLE INCOME
dc.subjectINCOME
dc.subjectINTEREST
dc.subjectDUMMY VARIABLES
dc.subjectPRIVATIZATION
dc.subjectPENSION SYSTEMS
dc.subjectFUTURE EARNINGS
dc.subjectINTEREST RATE
dc.subjectEXCHANGE
dc.subjectOPTION
dc.subjectBANKING SYSTEM
dc.subjectCONSUMER GOODS
dc.subjectHOUSEHOLD SAVING
dc.subjectDEVELOPING COUNTRIES
dc.subjectBEQUEST
dc.subjectREPAYMENTS
dc.subjectPOLITICAL ECONOMY
dc.subjectREVENUES
dc.subjectRETAIL MARKET
dc.subjectBONDS
dc.subjectLOAN
dc.subjectMACROECONOMIC CONDITIONS
dc.subjectVALUABLE ASSET
dc.subjectSUBSIDY
dc.subjectPRICE
dc.subjectTAX
dc.subjectASSET MANAGEMENT
dc.subjectPENSION SYSTEM
dc.subjectPENSION REFORMS
dc.subjectSAVING
dc.subjectASSET HOLDINGS
dc.subjectPRIVATE PENSION
dc.subjectPENSION FUND CONTRIBUTIONS
dc.subjectCREDITORS
dc.subjectINFLATION
dc.subjectINTERNATIONAL BANK
dc.subjectPENSION
dc.subjectWAGE GROWTH
dc.subjectLIFE EXPECTANCY
dc.subjectBUDGET
dc.subjectPUBLIC POLICY
dc.subjectPRIVATE SAVING
dc.subjectSAVINGS
dc.subjectCURRENCY
dc.subjectREPLACEMENT RATE
dc.subjectFINANCIAL INSTITUTION
dc.subjectDOMESTIC CURRENCY
dc.subjectECONOMIC CRISES
dc.subjectINCOME GROWTH
dc.subjectINCOME SHOCK
dc.subjectCONTRACTS
dc.subjectPENSION CONTRIBUTIONS
dc.subjectASSET MANAGER
dc.subjectRETIREMENT AGE
dc.subjectINTEREST RATES
dc.subjectDEBT
dc.subjectMARKETS
dc.subjectHOUSEHOLD INCOME
dc.subjectPENSION REFORM
dc.subjectLOCAL GOVERNMENT
dc.subjectINFLATION RATE
dc.subjectHOUSEHOLD SAVING RATE
dc.subjectCONSUMPTION EXPENDITURE
dc.subjectBUSINESS CYCLE
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectDIVIDENDS
dc.subjectPENSION FUNDS
dc.subjectCONSUMER DEMAND
dc.subjectSUBSIDIES
dc.subjectREAL ESTATE
dc.subjectFINANCE
dc.subjectFOREIGN CURRENCY
dc.subjectNEGATIVE SHOCK
dc.subjectTAXES
dc.subjectSAVINGS ACCOUNT
dc.subjectEXPENDITURE
dc.subjectMARKET ECONOMY
dc.subjectEQUITY
dc.subjectINCOME TAXES
dc.subjectSAVINGS RATES
dc.subjectLOAN REPAYMENT
dc.subjectMACROECONOMIC DATA
dc.subjectCAPITAL RATIO
dc.subjectGOOD
dc.subjectVOLATILITY
dc.subjectINVESTMENT OPTIONS
dc.subjectTURNOVER
dc.subjectFUTURE
dc.subjectSAVINGS RATE
dc.subjectPENSIONS
dc.subjectDEMOGRAPHIC CHANGE
dc.subjectDISPOSABLE INCOMES
dc.subjectREPAYMENT
dc.subjectEXPENDITURES
dc.subjectINCOMES
dc.subjectPROPERTY
dc.subjectPRIVATE PENSIONS
dc.subjectSHARES
dc.subjectCASH HOLDINGS
dc.subjectINSURANCE PREMIUM
dc.subjectNEGATIVE INCOME SHOCK
dc.subjectMARKET
dc.subjectPERSONAL PROPERTY
dc.subjectTRADE UNIONS
dc.subjectSECURITIES
dc.subjectOUTPUT
dc.subjectHOUSEHOLD SAVINGS
dc.subjectHOUSEHOLD SAVING RATES
dc.subjectEXPOSURE
dc.subjectHOLDINGS
dc.subjectINSURANCE
dc.subjectRETIREMENT SAVINGS
dc.subjectDEMOGRAPHIC CHANGES
dc.subjectTRADE
dc.subjectINTERESTS
dc.subjectGOODS
dc.subjectSECURITY
dc.subjectTRANSFER PAYMENTS
dc.subjectGROWTH RATE
dc.subjectSTOCKS
dc.subjectREAL ESTATE
dc.subjectINVESTMENT
dc.subjectBEQUESTS
dc.subjectSHARE
dc.subjectECONOMIC CRISIS
dc.subjectBANKING
dc.subjectFINANCIAL ASSETS
dc.subjectDEBT REPAYMENTS
dc.subjectPROFIT
dc.subjectCONSUMER PRICE INDEX
dc.subjectPENSION FUND
dc.subjectEXCHANGE RATE
dc.subjectDEMOGRAPHIC
dc.subjectMICRO DATA
dc.subjectPROFITS
dc.subjectPUBLIC PENSION
dc.subjectLIABILITIES
dc.subjectPRICES
dc.subjectASSET MANAGERS
dc.titlePopulation Aging and Households’ Saving in the Russian Federationen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titlePopulation Aging and Households' Saving in the Russian Federation
okr.date.disclosure2015-10-15
okr.date.doiregistration2025-04-10T10:10:54.446467Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2015/10/25159413/population-aging-households’-saving-russian-federation
okr.guid980951467992499972
okr.identifier.doi10.1596/1813-9450-7443
okr.identifier.externaldocumentum090224b08314a241_1_0
okr.identifier.internaldocumentum25159413
okr.identifier.reportWPS7443
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/10/15/090224b08314a241/1_0/Rendered/PDF/Population0agi0e0Russian0Federation.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryRussian Federation
okr.topicDebt Markets
okr.topicEmerging Markets
okr.topicEducation
okr.topicPrivate Sector Development
okr.topicMacroeconomics and Economic Growth
okr.topicFinance and Financial Sector Development
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.unitOffice of the Chief Economist, Europe and Central Asia Region
relation.isAuthorOfPublicationd0039343-97ad-5806-88d5-81b58fee8116
relation.isAuthorOfPublication.latestForDiscoveryd0039343-97ad-5806-88d5-81b58fee8116
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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