This paper presents a life-cycle simulation analysis of the interaction among savings decisions, housing purchase … decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact … that the typical Japanese household purchases a house later in the life-cycle with a higher downpayment ratio than its U …

existing debt. A simulation is conducted on future paths of household saving and fiscal situations to show that the ceiling …

existing debt. A simulation is conducted on future paths of household saving and fiscal situations to show that the ceiling …

This paper presents a life-cycle simulation analysis of the interaction among savings decisions, housing purchase … decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact … that the typical Japanese household purchases a house later in the life-cycle with a higher downpayment ratio than its U …

the United States and Japan. Second, we use tax data to estimate the magnitude of intergenerational transfers. The … intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and … especially of land in Japan, is bequeathed from one generation to the next …

the United States and Japan. Second, we use tax data to estimate the magnitude of intergenerational transfers. The … intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and … especially of land in Japan, is bequeathed from one generation to the next …

Introduction: A mere decade ago Japan’s financial system, and especially its banking system, was not only the largest … country. Today presents a completely different picture. Japan’s financial system is weak and in disarray. Banks no longer rank … among the world’s top ten, and their credit ratings have declined dramatically. Two of Japan’s top 21 banks have already …