Taking advantage of annual panel data on farm households collected by the Statistical Survey on Farm Management and Economy, this paper investigates whether a retirement consumption puzzle can be observed in Japan and, given that this is the case, what the reasons are. Our long-run panel data...

This paper tries to quantitatively examine the impact of intergenerational transfers on asset inequality among Japanese households. For that purpose, we estimate an intergenerational asset transfer function with various control variables, using a unique micro dataset taken from the "Household...

Despite the prolonged recession and sizable environmental changes after the burst of the Japanese economic bubble, a drastic degeneration has not been seen, either in seniority-based wages or in Japan's practice of lifetime employment, in the previous studies analyzing the negative impact of...

This paper examines the factors that lie behind the intergenerational transfers (through bequests andeducational investment) and retirement allowances in Japan. It is based on our unique microdatataken from the "Survey of Family Relationship, Job Experience, and Intergenerational...

Using micro-data from the Japanese Panel Survey of Consumers (JPSC), this paper analyzed an impact of macroeconomic conditions at graduation on the future job opportunities of female workers in Japan. More specifically, we examined whether the failure of obtaining a regular job at the time of...

This study analyzes a panel of nearly 800 deposit-taking institutions in Japan during the period from March 1992 to March 2003. We are concerned with two questions that are relevant to the design of a new regulatory framework for Japanese banking: 1) whether depositors respond to bank risks as...

This paper tests for the presence of market discipline by examining the effects of deposit-taking institutions' risk on the growth of deposits. The study analyzes a large panel of 689 small deposit-taking institutions (shinkin banks and credit cooperatives) in Japan during the period from FY...

Exploiting an ideal experiment situation, this paper provides clear evidence of consumption smoothing against an anticipated income change. Until FY2002, Japanese public employees received large and predictable bonus payments three times a year, but the third bonus in March was abolished in...

Part I : Consumer Response to the 1998 Tax Cut: Which of Tax Cut or Coupon Program is More Effective? The Japanese Government implemented two tax cut packages in 1998. A unique feature of the 1998 tax cuts is that the tax cut amount for each household is based on the number of family members...

Part I : New Evidence on the Response of Expenditures to Anticipated Income Changes: Panel Data Estimates on Japanese Bonus System This paper exploits a notable institutional feature of the Japanese economy, the bonus system, to test whether households in Japan smooth consumption under large and...