Abstract
This study analyzes the life cycle of private individuals' savings in Brazil, reflecting on how the proportion of savers changes as the population ages. To this end, we employ a multinomial logit model to compare the probability of savings and dissavings for individuals, according to their ages, based on data from the Household Budget Surveys (HBS) of 2002-2003 and 2008-2009. The results confirm a greater incidence of savers among middle-aged adults and a greater percentage of dissavers among the elderly. However, given the age structure of the Brazilian population, demographic change is still expected to result in an increase in the number of net savers in the coming years.
Keywords:
Savings; Life Cycle; Brazil; Household Budget Surveys
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Source: Prepared by the author applying the microdata of 2002/2003, 2008/2009 HBS (IBGE)Note: All results are obtained by applying probability weights.
Source: IBGE - Population Projections (2013 Revision)
Source: Prepared by the author applying the microdata of 2002/2003, 2008/2009 HBS (IBGE)Note: All results were obtained by applying probability weights.