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 language | English |
|---|---|
| Pages (from-to) | 537-552 |
| Number of pages | 16 |
| Journal | Economic Journal |
| Volume | 107 |
| Issue number | 442 |
| Publication status | Published - 1997 May |
| Externally published | Yes |
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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 journal › Article
}
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.
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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 -