This study empirically examines the (dis)saving behavior of the elderly in Japan using two micro-datasets of household surveys. The long-run dataset, which covers 20 years, indicates that on average, the elderly in Japan dissave, but the pace of dissaving of retired elderly is excessively slow...

This paper documents the role of consumption in explaining the weak interest rate effect of monetary transmission in Japan. Economic theory suggests circumstances in which a rise in short term real interest rates can increase consumption, contrary to much conventional wisdom. This paper suggests...

The consumption behaviour of UK, US and Japanese households is examined and compared using a modern Ando-Modigliani style consumption function. The models incorporate income growth expectations, income uncertainty, housing collateral and other credit effects. These models therefore capture...

This paper empirically examines depositors' ability to distinguish healthy banks from problematic banks, a necessary condition for depositors to impose discipline on banking institutions. We analyzed a large panel of 784 deposit-taking institutions in Japan during the period from the 1992...

This paper tests the existence of precautionary savings using subjective or self-reported measures of income uncertainty drawn from Japanese household data (primarily from those in their 30s). Two subjective measures are tested: one concerning labor earnings and the other concerning public...