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Identifier to cite or link to this item: https://hdl.handle.net/10086/14602

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Title
Unemployment risk and buffer-stock saving: An empirical investigation in Japan
Creator
Creator Name
Bessho, Shun-ichiro Bessho, Shun-ichiro
別所, 俊一郎 別所, 俊一郎
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Tobita, Eiko Tobita, Eiko
飛田, 英子 飛田, 英子
Affiliation
Affiliation Name
Japan Research Institute
Rights
Copyright (C)2007, Elsevier B.V. The definitive version will be published in Japan and the World Economy.
Key Word
Buffer-stock saving
Unemployment risk
JEL
D91
E21
Abstract
The purpose of this paper is to investigate, using micro data, the strength in Japan of the　precautionary saving motive. While numerical simulations suggest the economic importance　of precautionary saving, the empirical evidence is mixed. In this paper, we apply the bufferstock　saving model and focus on the effect of unemployment risk on wealth accumulation.　We find that uncertainty has a positive and statistically significant effect on the wealth-toincome　ratio, and that buffer-stock savings account for 6 or 15 percent of net financial assets.　Housing loans and expenditures associated with children decrease this ratio.
Publisher
Elsevier B.V.
Issued Date
2008-08
Language
English(eng)
Resource Type
journal article
Version Type
AM
Is Version OfRelation -
Related Identifier
DOI
  10.1016/j.japwor.2007.03.001
ISSN
0922-1425
NCID
AA10679644
Source Title
Japan and the World Economy
Volume Number
20
Issue Number
3
Page Start
303
Page End
325
Appears in Collections
010a Journal Articles　=　雑誌掲載論文
URL
https://hdl.handle.net/10086/14602