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Income Variability and Consumption-A Full Consumption Insurance Test Using Japanese Micro Data in the 1990s (in Japanese)

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  • Satoshi Shimizutani

Abstract

Using micro-level data from the Family Income and Expenditure Survey, this study tests the full consumption insurance hypothesis and quantifies the sources of insurance. The consumption full insurance hypothesis is strongly rejected for both total consumption and consumption by type of goods, which implies that Japanese households fail to smooth consumption. However, the deviation from full insurance is small. Saving is responsible for a larger part of change in head of household income.

Suggested Citation

  • Satoshi Shimizutani, 2003. "Income Variability and Consumption-A Full Consumption Insurance Test Using Japanese Micro Data in the 1990s (in Japanese)," Economic Analysis, Economic and Social Research Institute (ESRI), vol. 169, pages 52-68, March.
    • Handle: RePEc:esj:esriea:169c
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    File URL: http://www.esri.go.jp/jp/archive/bun/bun169/bun169c.pdf
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    Cited by:

    1. Yasuyuki Sawada & Satoshi Shimizutani, 2005. "Are People Insured Against Natural Disasters? Evidence from the Great Hanshin-Awaji (Kobe) Earthquake in 1995," CARF F-Series CARF-F-019, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    2. Yasuyuki Sawada & Satoshi Shimizutani, 2008. "How Do People Cope with Natural Disasters? Evidence from the Great Hanshin-Awaji (Kobe) Earthquake in 1995," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(2-3), pages 463-488, March.
    3. Yasuyuki Sawada & Satoshi Shimizutani, 2007. "Consumption Insurance and Risk-Coping Strategies under Non-Separable Utility: Evidence from the Kobe Earthquake," CARF F-Series CARF-F-106, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    4. SAWADA Yasuyuki & SHIMIZUTANI Satoshi, 2004. "How Do People Cope With Natural Disasters? Evidence from the Great Hanshin-Awaji Earthquake," ESRI Discussion paper series 101, Economic and Social Research Institute (ESRI).
    5. Yasuyuki Sawada & Satoshi Shimizutani, 2011. "Changes in durable stocks, portfolio allocation, and consumption expenditure in the aftermath of the Kobe earthquake," Review of Economics of the Household, Springer, vol. 9(4), pages 429-443, December.

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