This paper investigates the household saving behavior by different cohorts with various household characteristics in Japan. Pooling the National Survey of Family Income and Expenditure in 1984, 1989 and 1994, the cohort analysis finds a substantial behavioral difference in the baby-boomer...

Japan has already had the oldest population in the world. Since 2001, current account of the principal pension program has turned into a deficit. Balance sheet of all the pension programs shows huge excess liabilities, equivalent to 1.2 times the year 2000 GDP of Japan. The generous pension...