Changes In Japanese Household Income Savings And Consumption
Download Changes In Japanese Household Income Savings And Consumption full books in PDF, epub, and Kindle. Read online free Changes In Japanese Household Income Savings And Consumption ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : Masato Nakane |
Publisher | : |
Total Pages | : 216 |
Release | : 2011 |
Genre | : |
ISBN | : |
When Japan experienced high economic growth, its society was characterized by low inequality in income, a high saving rate and a low consumption rate. However, after Japan's transition to slow economic growth, it was said that the society lost income mobility, and the inequality among households deteriorated. In addition, the aggregate household saving rate dropped drastically. Meanwhile, consumption expanded, which gave people more options regarding their expenditure. With this background, this thesis examines the impacts of these changes-- income mobility over time, savings rate changes, and intra-household allocation--using a long run panel data set for Japan. Chapter 1 studies income mobility in Japanese society. Household income mobility at the macro level is measured by six different methods. The results show that as a whole, household income mobility became lower in the long-run. At the micro level, unconditional micro income mobility indicated that it is possible that poorer people would catch up with richer people. Finally, conditional micro income mobility also shows that there exists conditional convergence. In Chapter 2, the causes for the decrease in the aggregate household saving are analyzed. The aggregate time series analysis reveals that the increase in the ratio of the aged population ratio partially explains the sharp decrease in the household saving rate. By using household level panel data, it was found that savings driven by the motive of home ownership could partly account for this decrease in the saving rate. The increasing burden of education expenditure is among the strongest candidates for explaining the change. Finally, some weak indirect evidence in support of the target saving hypothesis is found. In Chapter 3, the characteristics of intra-household allocation are discussed. Using the Slutsky symmetry test, the unitary model could not be rejected for the consumption behavior of one-person households. Meanwhile, the tests for SR1, distribution factor proportionality and linearity indicated that the collective model might explain the consumption behavior of two-person households. Finally, the hypothesis that three-person households could be represented by the collective model for two-person households could not be rejected.
Author | : Erkki Vihriälä |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 2017-02-10 |
Genre | : Business & Economics |
ISBN | : 1475578350 |
We study Japanese household consumption at a disaggregated level focusing on the role of income and asset dynamics. Stagnation of real per capita consumption is widespread acrosslabor market groups, age groups and regions. Consumption-to-income ratios have been mildly increasing due to the rising share of pensioners with significant assets. Evidence therefore suggests that assets have become more important in financing consumption. However, the short-term consumption dynamics remain quite sensitive to income growth but not to asset market movements.
Author | : Fumio Hayashi |
Publisher | : MIT Press |
Total Pages | : 532 |
Release | : 1997 |
Genre | : Business & Economics |
ISBN | : 9780262082556 |
Analysis of consumption and saving decisions by households has always been one of the most active areas of research in economics--and with good reason. Private consumption is the most important component of aggregate demand in a capitalist economy, and explaining consumption is the key element in most macroeconomic forecasting models. To evaluate the effect of government policies invariably requires the knowledge of how they change parameters relevant for household decision making. Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters. The monograph, which brings together Hayashi's empirical research on saving, is divided into three sections. Part I, "Liquidity Constraints", contains five studies that test the well-known implication of the Life Cycle-Permanent Income hypothesis that households shield consumption from income fluctuations. Part II, "Risk-Sharing and Altruism", contains three papers that examine the interactions between related and unrelated households predicted by the hypothesis for the US and Japanese households. The three papers in Part III, "Japanese Saving Behavior", present the author's explanation of the high saving rate in postwar Japan.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 38 |
Release | : 1987-01-01 |
Genre | : Business & Economics |
ISBN | : 1451923473 |
This paper develops and tests a model of Japan’s household savings rate, based on the life-cycle hypothesis that the primary motive for savings is provision for retirement. The paper shows that Japan’s high household savings rate in recent decades reflects the positive influence of rapid economic growth, leading to a prolonged retirement period through the wealth and life-expectancy effects of an income change, which has initially outweighed the negative combined influence of improvements in public pension benefits and the aging of the population. It projects that the savings rate will decline substantially in coming decades as the negative influence accelerates.
Author | : Satoshi Shimizutani |
Publisher | : |
Total Pages | : 180 |
Release | : 2002 |
Genre | : Consumption (Economics) |
ISBN | : |
Author | : Hajime Wada |
Publisher | : |
Total Pages | : 50 |
Release | : 1997 |
Genre | : Consumption (Economics) |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 40 |
Release | : 1999 |
Genre | : Consumption (Economics) |
ISBN | : |
Author | : Toshiyuki Mizoguchi |
Publisher | : |
Total Pages | : 328 |
Release | : 1970 |
Genre | : Consumption (Economics) |
ISBN | : |
Economic research study of personal savings and consumption behaviour of families in post-war Japan - covers the theoretics of consumption functions, the standard of living, trends, the influence of position in the occupational structure on family budgets, etc., and includes an international comparison of saving and consumption ratios. Diagrams and references.
Author | : Kiichi Tokuoka |
Publisher | : International Monetary Fund |
Total Pages | : 23 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 1455211745 |
Boosting growth through rebalancing is critical for addressing pressures from Japan’s aging population. This paper focuses on one important untapped source of growth - private consumption, and argues that the key to reviving consumption is boosting household disposable income through higher wages, especially in services, and higher property income. The paper also suggests that the impact of higher property income on consumption could be potentially large.
Author | : Atsushi Maki |
Publisher | : |
Total Pages | : 30 |
Release | : 1990 |
Genre | : Finance, Personal |
ISBN | : |