Understanding Japanese Savings: Does Population Aging Matter?Japan's savings are among the highest in the world, and these high rates have played a valuable role throughout the post-war period. However, over the next several decades, Japan's population will be ageing rapidly. Will this lower Japanese savings rates? Using up-to-date financial and demographical data, author Robert Dekle finds that the answer to this question is an emphatic 'yes'. Understanding Japanese Saving holds key lessons for Western nations undergoing similar demographic transformations as well as developing countries looking to establish public savings institutions. |
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Understanding Japanese Savings: Does Population Aging Matter? Robert Dekle No preview available - 2014 |
Common terms and phrases
28 percent altruistic assets assume average bequest motive chapter coefficient consumption per capita current profits debt–GDP ratio Dekle dissaving dummy variable dynastic economic effective population elderly couple equation estimates fundamentals q future GDP today government budget government debt government saving rate government spending government’s growth head is aged healthcare Horioka immigration impact increase independent elderly intergenerational elderly Japan Japanese elderly Japanese government Japanese investment Japanese saving labor force life-cycle hypothesis lifetime wealth lower LTFq market q number of children parents percent in 2040 percent of GDP period population ages Postal Saving system present value private saving rate projections public capital public investment rates real estate wealth real interest rate Ricardian equivalence sample saving and investment saving behavior saving rates decline saving–investment balance sector simulation social security wealth stock market stock market bubbles support ratio surplus Table tax rates total wealth wealth holdings Yayoi period younger family