Professor Zhao Published in Journal of Monetary Economics

Professor Zhao’s paper “The Chinese Saving Rate: Long-Term Care Risks, Family Insurance, and Demographics” has been accepted for publication in the Journal of Monetary Economics, a top macro journal.

In this article, Professor Zhao and his coauthor find that the combination of the risks faced by the elderly and the deterioration of family insurance due to the one-child policy is an important cause of the increase in China’s saving rate since 1980. This paper is the first major paper growing out of their research agenda on the Chinese economy and its implications for the rest of the world.

Professor Zhao’s article can be found at his website: