This paper examines the implication of the full insurance hypothesis and differences in its applicability across groups of households in Japan. Using a rare Japanese individual panel data set called the Japanese Panel Survey of Consumption, the paper first shows that the full insurance hypothesis is strongly rejected for the country as a whole. The paper further shows that the rich as well as the poor, and also college graduates as well as non-college graduates cannot insure their consumption against income shocks. In sharp contrast, urban residents can pool income shocks completely, whereas rural residents cannot. Rural residents suffer from income risks more seriously than urban residents in Japan. Copyright 2001 by Taylor and Francis Group
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Publisher Info
Article provided by Taylor and Francis Journals in its journal Applied Economics.
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
Did you know? You can create a compilation of all publications of a group of people, say alumni of a program, your students or memers of an association.