By James M. Poterba
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Extra info for International Comparisons of Household Saving
48 John B. Burbidge and James B. Davies fourth of families have negative saving rates. It is also interesting to observe how the quantiles spread out at higher values. An important question concerns the extent to which the pattern of saving rates shown here depends on our inclusion of families of all types, and the varying importance of different kinds of families with age. In an earlier version of this paper we standardized for family type by confining our attention to married-couple families.
A) Cohort and smoothed medians. (B) Kernel-smoothed quantiles. 70000 60000 MOO0 40000 30000 20000 10000 0 1 25 I 35 I 1 55 45 I 65 I 75 Age 60000 70000 50000 - 30000 40000 20000 - 10000 - 0- 1 25 n I I I 45 55 I 65 I 75 Age Fig. 2 Quantiles for earnings Note: The bandwidth is 8. (A) Cohort and smoothed medians. ( B ) Kernel-smoothed quantiles. 5000 4000 6000 3000 - 2000 I000 0 75 Fig. 3 Quantiles for capital income Note: The bandwidth is 12. (A) Cohort and smoothed medians. ( B ) Kernel-smoothed quantiles.
It then moved slightly higher than the 1978 level in 1986, reaching $49,647; in 1990 it peaked at $52,892. Due to increasing tax rates, after-tax income in 1990 was, in contrast, only slightly above its 1978 level, standing at $39,385 versus a 1978 figure of $39,090. Neglecting 1978, where information on income components is unavailable, earnings follows a time path qualitatively similar to that of pretax income. In contrast, capital income was at its peak, $2,905, in 1982, and declined in each subsequent year.