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The selfish life-cycle model or hypothesis is, together with the dynasty or altruism model, the most widely used theoretical model of household behavior in economics, but does this model apply in the case of a country like Japan, which is said to have closer family ties than other countries? In...
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. This study adds to the discussion by providing causal estimates for the effect of transfer receipt on the savings behavior … of households. The model allows for dynamic adjustment and variations in the savings behavior over the wealth … transfer volume, the transfer incidence over the wealth distribution and the effect of the savings behavior. The results are …
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In this paper, we first provide a brief exposition of the simplest version of the selfish life cycle model or hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the literature on household saving behavior in Japan (with...
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