. Our results are summarized as follows: (1) households with debt as well as debt-free households with low annual incomes … and net savings faced disposable income constraints; (2) for these types of households, parameter values between MLE and …) debt-free households with high annual incomes and net savings also faced a disposable income constraint in MLE.. …

. Our results are summarized as follows: (1) households with debt as well as debt-free households with low annual incomes … and net savings faced disposable income constraints; (2) for these types of households, parameter values of lagged … remain more or less the same; (3) debt-free households with high annual incomes and net savings also faced a disposable …

In this paper, using an OLG model with heterogeneous households, we investigate economic inequality in the recent …

This paper investigates whether the participation costs play an important role in explaining the households' limited …-graduate households and non-college-graduate households. Our empirical analysis is utilizing Fairlie (1999, 2005)'s Blinder …. Estimation results show that (1) the participation probability amounts to 35% for college-graduate households, while 18% of non …

when households include a disabled family member, household consumption net of long-term care costs do not decrease as much … introduction of social insurance in 2000 helped Japanese households to reduce the welfare losses associated with a disabled family …