Why do people save? A micro-analysis of motives for household saving in Japan

Charles Yuji Horioka, Wako Watanabe

Research output: Contribution to journalArticle

61 Citations (Scopus)

Abstract

This paper estimates the contribution of net saving for each of twelve motives to overall household saving in Japan using micro data from a Japanese Government survey and finds that net saving for the retirement and precautionary motives, both of which are consistent with the life-cycle model, are of dominant importance. It also finds that the saving motives of Japanese households vary greatly by age and that they save at each life stage for motives that are appropriate for that life stage. These findings suggest that the life-cycle model is highly applicable in the case of Japan.

Original languageEnglish
Pages (from-to)537-552
Number of pages16
JournalEconomic Journal
Volume107
Issue number442
Publication statusPublished - 1997 May
Externally publishedYes

Fingerprint

Household saving
Japan
Life-cycle model
Precautionary motive
Household
Government
Micro data
Retirement

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

Why do people save? A micro-analysis of motives for household saving in Japan. / Horioka, Charles Yuji; Watanabe, Wako.

In: Economic Journal, Vol. 107, No. 442, 05.1997, p. 537-552.

Research output: Contribution to journalArticle

@article{1864a24a970140b59afeb2e89791c433,
title = "Why do people save? A micro-analysis of motives for household saving in Japan",
abstract = "This paper estimates the contribution of net saving for each of twelve motives to overall household saving in Japan using micro data from a Japanese Government survey and finds that net saving for the retirement and precautionary motives, both of which are consistent with the life-cycle model, are of dominant importance. It also finds that the saving motives of Japanese households vary greatly by age and that they save at each life stage for motives that are appropriate for that life stage. These findings suggest that the life-cycle model is highly applicable in the case of Japan.",
author = "Horioka, {Charles Yuji} and Wako Watanabe",
year = "1997",
month = "5",
language = "English",
volume = "107",
pages = "537--552",
journal = "Economic Journal",
issn = "0013-0133",
publisher = "Wiley-Blackwell",
number = "442",

}

TY - JOUR

T1 - Why do people save? A micro-analysis of motives for household saving in Japan

AU - Horioka, Charles Yuji

AU - Watanabe, Wako

PY - 1997/5

Y1 - 1997/5

N2 - This paper estimates the contribution of net saving for each of twelve motives to overall household saving in Japan using micro data from a Japanese Government survey and finds that net saving for the retirement and precautionary motives, both of which are consistent with the life-cycle model, are of dominant importance. It also finds that the saving motives of Japanese households vary greatly by age and that they save at each life stage for motives that are appropriate for that life stage. These findings suggest that the life-cycle model is highly applicable in the case of Japan.

AB - This paper estimates the contribution of net saving for each of twelve motives to overall household saving in Japan using micro data from a Japanese Government survey and finds that net saving for the retirement and precautionary motives, both of which are consistent with the life-cycle model, are of dominant importance. It also finds that the saving motives of Japanese households vary greatly by age and that they save at each life stage for motives that are appropriate for that life stage. These findings suggest that the life-cycle model is highly applicable in the case of Japan.

UR - http://www.scopus.com/inward/record.url?scp=0030881140&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0030881140&partnerID=8YFLogxK

M3 - Article

AN - SCOPUS:0030881140

VL - 107

SP - 537

EP - 552

JO - Economic Journal

JF - Economic Journal

SN - 0013-0133

IS - 442

ER -