This paper investigates empirically why Japan's household savings rate fell in the 1990s. We constructed an economic …'s household savings rate. Our simulation analysis demonstrated that if the proportion of liquidity-constrained households in the … 1990s had stayed at the level as that of the late 1980s, the household savings rate would have increased by four percent …

-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tighening of …

a new panel survey (SOFIE) to study housing wealth in household portfolios. It then estimates the rates of saving that … selected comparator countries; • Housing represents a major share of household wealth, and this share has risen in line with … the increase in house prices; • The composition of household portfolios is comparable to other selected countries except …

This paper presents data on Japan's household saving rate, considers the reasons for Japan's high household saving rate … in the past and the reasons for the recent decline therein, projects future trends in Japan's household saving rate, and … consider the implications of my findings. It finds that Japan's high household saving rate was a temporary phenomenon and that …

We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the … impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan …'s population can explain the level of, and past and future trends in, its household saving rate; second, the rapid aging of Japan …

. First, it argues that consumption should be defined as expenditure on household production as well as on market goods, that … life cycle consumption behaviour are resolved. Secondly, we stress the importance of the heterogeneity of household …

household portfolio allocation are collected from the HINK surveys for the period 1982-1992, and portfolio shares of different …