This paper argues that precautionary savings against uncertain income comprise a large fraction of aggregate savings. A … precautionary savings comprises up to 56 percent of aggregate life cycle savings. The derived expression for n-period optimal … comparisons of savings patterns among occupational groups using the Consumer Expenditure Survey contradict the predictions of the …

the prediction of the national savings rate of Korea for the next several decades, we employ a life-cycle model, which … that the rapid population aging and long-term budgetary imbalance will substantially lower the national savings rate in … introduction of reverse annuity mortgage is likely to further decrease the savings rate in the future …

. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both … changes. We find that (i) the welfare cost of household-level consumption fluctuations may be overstated by 1.7 percentage …

elderly in the U.S., the EU, and Japan will more than double. At the same time, the number of workers available to pay the … life-cycle model. The model has three regions the U.S. Japan which exchange goods and capital. The model features …

Comparative Survey of Savings in Japan and the United States,' a binational survey conducted in 1996 by the Institute for Posts … the dominant model of household behavior in both countries but that it is far more applicable in Japan than it is in the U … of household behavior in either country, and (3) that the dynasty model is more applicable in Japan than it is in the U …

In this paper, I survey the previous literature on the saving behavior of the aged in Japan and then present some … survey data on the saving behavior of the aged in Japan that became available recently. To summarize the main findings of … that this model is highly applicable in the case of Japan …

being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel … Survey of Consumers, conducted by the Institute for Research on Household Economics, in conjunction with judicial data by …