Azuma, Yoshiaki; Nakao, Takeo - Volkswirtschaftliche Fakultät, … - 2009
The paper estimates Japan's household saving rate function for the 1958−1998 period. We find that the contribution of … the increase in net financial assets to the fall of the saving rate varies directly with the amount of assets. This has … overwhelmed other factors and has caused the saving rate to fall since 1976. …