precautionary saving behavior of Japanese households. Our findings are: 1. Measures for income uncertainty have a positive influence … on the target for precautionary wealth but not on precautionary wealth. 2. The positive influence of income uncertainty … suggest that Japanese households save against income uncertainty until around when their head is aged 50 and then save against …

OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing … through factor income and capital gains was close to zero before 1999 but has increased since then. Risk sharing from capital … gains, at about 6 percent, is higher than risk sharing from factor income flows for European Union countries and OECD …