stagnation of household consumption during the 1990s and find that the stagnation of household disposable income, the decline in … stagnation of investment, especially private fixed investment, was the primary culprit. I then investigate the causes of the …

; consequently they raise liquidity preference and reduce consumption. As the period without the shock lasts, they become more … optimistic so that they gradually lower liquidity preference and increase consumption. The recovery pattern depends on the … realized frequency of the shock: when the shock occurs many times in succession, the consumption recovery is first slow …

Great Depression in the United States, the recent long-run stagnation in Japan, and the worldwide financial crisis triggered …

. Thus, the present model provides an analytical framework for persistent stagnation. …

policy recommendations about how to reform personal taxes in Japan. We find that the structure of Japan's current consumption …In this paper, we conduct a theoretical analysis of personal taxes (defined to include consumption and income taxes …), describe and evaluate the past and present structure of personal taxes in Japan, and based on our findings, make a number of …

Japan, we find that private consumption has been relatively stagnant during the 2002-07 period and that the stagnation of … private consumption has been due to the stagnation of household income and of household wealth and the relative stability of …In this paper, we present data on recent trends in private consumption and in possible determinants of private …

importance of borrowing constraints in Japan. We find (1) that 8 to 15 percent of young married Japanese households are borrowing … does not apply in Japan and that the presence of borrowing constraints is not the main reason why it does not apply. …

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. …

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 …, increases in consumption expenditures, and increases in taxes and social insurance premiums. These findings are consistent with …

literature on household saving behavior in Japan (with emphasis on the author's own past research) to shed light on whether or … not the selfish life-cycle model applies in the case of Japan. In particular, we survey the literature on the impact of … almost all of the available evidence suggests that the selfish life-cycle model applies to a greater extent in Japan than it …