Determinants Of Different Life Cycle Stages’ Household Saving Rates

This paper uses the 2009 and 2002 Urban Household Survey data of six provinces and the municipality to investigate the factors influencing aggregate household saving rate and the different life cycle stages’ household saving rates. The conclusions show that:(1) The household disposable income in 2009 and 2002 have significant positive correlation with household saving rate, both the two years’ household saving rates feature a U-shape over the household life cycle, and the factors which have significant effects on household saving rates in these two years are basically the same;(2) As for the different life cycle stages’ household saving rates,except for the household disposable income, the effects of other factors which have significant effects on the different life cycle stages’ household saving rates have differences in the two years;(3) As for the all different life cycle stages’ households,the higher income class of the household, the savings rate will be significantly higher;(4) Income uncertainty significantly promoted all the different life cycle stages’ household saving rates;(5) Family medical expenditure uncertainty has a significant positive impact on the different life cycle stages’ household saving rates, and the impact on the old household saving rates is significantly greater than other household;(6) The urban population scale has significant negative correlation with middle-aged household savings rate, but has significant U-shape correlation with aggregate household saving rate and other life cycle stages’ household saving rates.