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 paper develops a general equilibrium framework to examine the economic implications of population aging in Japan … assess the impact of aging on Japan's government finances; and (ii) compare fiscal policy options with respect to their … implications of population aging in Japan. Particular attention is paid to aggregate saving behavior which is modeled on the basis …

The paper develops a general equilibrium framework to examine the economic implications of population aging in Japan … assess the impact of aging on Japan's government finances; and (ii) compare fiscal policy options with respect to their …

) countries and also broken down by the age group of the household head. We find that pre-retirement households (households with a … head in the 50-59 age group) in Japan do not have inordinate amounts of debt and that their financial health is … they could previously. We therefore need to monitor the borrowing behavior of this cohort over time as the Bank of Japan …