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 …

the consumption level of all households who are perceived to be richer, on household savings and consumption. When …

in opposing forces on savings: mortality increases, which reduces savings, and long-term illness risk increases, which … enhances savings. We use a two period life-cycle model with uncertain lifetime including perceived HIV contamination risk to … illustrate both the opposing effects of the HIV epidemic on individual savings and test the predictions of our model with data …