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 constant consumption per capita current account debt–GDP ratio Dekle dissaving effective population elderly couple equation estimates fundamentals q funds future GDP today government debt government saving rate government spending government’s Hayashi head is aged healthcare Heteroskedasticity Horioka household saving immigration increase independent elderly intergenerational elderly intergenerational household International Monetary Fund investment rate Japan Japanese elderly Japanese government Japanese saving labor force lifetime wealth lower LTFq market q number of children parents pension 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 sample saving and investment saving behavior sector simulation social security social security benefits stock market stock market bubbles support ratio surplus Table tax rates Tokyo total wealth unfunded wealth holdings Yayoi period younger family