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| Author | : Kosei Fukuda |
| Publisher | : Nova Science Publishers |
| Total Pages | : 0 |
| Release | : 2010 |
| Genre | : Business & Economics |
| ISBN | : 9781608769926 |
Reviews several methods for cohort analysis and compares through empirical analyses and simulations.
| Author | : Charles Horioka |
| Publisher | : |
| Total Pages | : 62 |
| Release | : 2000 |
| Genre | : Households |
| ISBN | : |
In this paper, we analyze a variety of data on saving motives, bequest motives, and bequest division from the Comparative Survey of Savings in Japan and the United States,' a binational survey conducted in 1996 by the Institute for Posts and Telecommunications Policy of the Ministry of Posts and Telecommunications of the Government of Japan, in order to shed light on which model of household behavior applies in the two countries. We find (1) that the selfish life cycle model is the dominant model of household behavior in both countries but that it is far more applicable in Japan than it is in the U.S., (2) that the altruism model is far more applicable in the U.S. than it is in Japan but that it is not the dominant model of household behavior in either country, and (3) that the dynasty model is more applicable in Japan than it is in the U.S. bu that it is of only limited applicability even in Japan.
| 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 Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters.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 | : Miki Seko |
| Publisher | : Springer |
| Total Pages | : 291 |
| Release | : 2019-05-08 |
| Genre | : Business & Economics |
| ISBN | : 9811333696 |
This book addresses essential questions about housing by building theoretical models based on various real world problems in Japan and testing these models using econometric methods. Almost all related empirical analyses use Japanese household longitudinal data. Accordingly, the author analyzes whole aspects of the data, based on an understanding of the actual situation, theory, and empirical analysis, to directly derive a vision of a future housing policy. Why are houses expensive and difficult to obtain in Japan? Why do people have to live in small houses? Why do people not relocate frequently? Why is the earthquake insurance subscription rate so low, particularly in an earthquake-prone country such as Japan, even after such a catastrophic event as the Great East Japan Earthquake of 2011? How do existing housing finance and tax policies or laws relate to these real world problems? To answer these questions, the book clarifies the unique criteria that characterize housing problems in Japan and presents a vision of future housing policy. The short answer is that existing housing finance policy that adopts criteria based on the floor space of houses creates incentives for people to live in even smaller houses. Furthermore, the Japan Rental Act, which affects people renting homes, reduces residential mobility. The incidence of underinsurance against earthquake risk is a result of earthquake insurance market imperfections such as crude and rough geographical risk ratings. The book elaborates on these factors in four parts and will be of interest to all readers who are concerned with the housing market and household behavior in Japan.
| Author | : James M. Poterba |
| Publisher | : University of Chicago Press |
| Total Pages | : 216 |
| Release | : 2007-12-01 |
| Genre | : Business & Economics |
| ISBN | : 0226676293 |
The declining U.S. national saving rate has prompted economists and policymakers to ask, should the federal government encourage household saving, and if so, through which policies? In order to better understand saving programs, this volume provides a systematic and detailed description of saving policies in the G-7 industrialized nations: the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom. Each of the seven chapters focuses on one country and addresses a core set of topics: types of accumulated household savings and debt; tax policies toward capital income; saving in the form of public and private pensions, including Social Security and similar programs; saving programs that receive special tax treatment; and saving through insurance. This detailed summary of the saving incentives of the G-7 nations will be an invaluable reference for policymakers and academics interested in personal saving behavior.
| Author | : Jack Demick |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 447 |
| Release | : 2013-11-11 |
| Genre | : Science |
| ISBN | : 1489902864 |
This volume is an outgrowth of research on the relations between human beings and their environments, which has developed internationally. This development is evident in environment-behavior research studies conducted in countries other than the United States. See Stokols and Altman (1987) for examples of such work in Australia, Japan, France, Germany, the Netherlands, Sweden, the United King dom, the former Soviet Union, and Latin and North America. The international development of this research area is also evident in the establishment of profes sional organizations in different countries such as the Environment-Behavior De sign Research Association (EDRA) in the United States, the Man-Environment Research Association (MERA) in Japan, the International Association for People-En vironment Studies (lAPS) in Great Britain, and the People and Physical Environ ment Research Association (PAPER) in Australia. This volume focuses on environment-behavior research within Japan and the United States as well as cross-cultural studies involving both countries. As we note in detail in Chapter 1, the conference on which the work presented herein is based was preceded by three Japan-United States conferences on environment-behavior research, the first of which took place in Tokyo in 1980. As currently conceived, the present volume stands alone as a compendium of a Significant proportion of cross-cultural research on environment-behavior relations in Japan and the United States that has been developing over the last 15 years. As such, we envision the volume as a basic interdisciplinary reference for anthropolgists, archi tects, psychologists, SOCiologists, urban planners, and environmental geographers.
| Author | : Tadashi Yamada |
| Publisher | : |
| Total Pages | : 33 |
| Release | : 1993 |
| Genre | : Consumption (Economics) |
| ISBN | : |
Our study shows that the household production theory illuminates the behavior of households in the allocation of time and consumption expenditures. Among the noteworthy findings derived from our data, the various household non-market time allocations (consequently, market labor supply) cannot be separated from consumption expenditures. An increase in market wage rates for both young and elderly households reduces their time spent on household nonmarket activities, such as child care, medical care, and listening to the radio and watching TV. The high opportunity costs of waiting at the hospital clearly discourage working people from visiting the hospital. These results show not a few similarities between the household non-market time allocation in Japan and that to be found in the U.S.
| Author | : Joel Slemrod |
| Publisher | : |
| Total Pages | : |
| Release | : 1989 |
| Genre | : |
| ISBN | : |
This paper presents a life-cycle simulation analysis of the interaction among savings decisions, housing purchase decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact that the typical Japanese household purchases a house later in the life-cycle with a higher downpayment ratio than its U.S. counterpart. Second, a life-cycle simulation model that includes the housing purchase decision is constructed and used to compare the behavior of typical U.S. and Japanese households. The Japanese household is induced to save more early in the life cycle in order to meet the higher downpayment requirement. The saving-consumption pattern resulting from a higher growth rate is shown to contribute to a higher aggregate saving rate in Japan compared to the U.S. However, the contribution of the induced early saving due to the downpayment requirement seems to be too small to explain a large differential in the saving rates of the two countries. Only if we introduce a bequest motive can the model generate the observed saving rate in Japan. Finally, tax reform concerning the tax deductibility of mortgage interest payments or the tax exempt status of interest income is shown to have a small impact on the aggregate saving rate in either country. For example, the introduction of tax-exempt saving in the U.S. would increase the saving rate by only 1.5%
| Author | : Ms.Elif C Arbatli |
| Publisher | : International Monetary Fund |
| Total Pages | : 48 |
| Release | : 2017-05-30 |
| Genre | : Business & Economics |
| ISBN | : 1484302362 |
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that contain certain terms pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU index rises around contested national elections and major leadership transitions in Japan, during the Asian Financial Crisis and in reaction to the Lehman Brothers failure, U.S. debt downgrade in 2011, Brexit referendum, and Japan’s recent decision to defer a consumption tax hike. Our uncertainty indices for fiscal, monetary, trade and exchange rate policy co-vary positively but also display distinct dynamics. VAR models imply that upward EPU innovations foreshadow deteriorations in Japan’s macroeconomic performance, as reflected by impulse response functions for investment, employment and output. Our study adds to evidence that credible policy plans and strong policy frameworks can favorably influence macroeconomic performance by, in part, reducing policy uncertainty.
