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The Recent Increase in Dual-Income Households and Its Impact on Consumption Expenditure

Author

Listed:
  • Ko Miura

    (Bank of Japan)

  • Masato Higashi

    (Bank of Japan)

Abstract

In recent years, the increase in dual-income households has been remarkable. The main factor in this increase has been the successful efforts of the government and firms in promoting female labor force participation in a tight labor market. In addition, negative factors such as the heightened concern of mainly middle-aged people regarding their financial situation in old age has also affected the increase in dual-income households. Looking at the effects of the increase on dual-income households' consumption expenditure and savings, it is clear that the increase in income corresponds with an increase in consumption expenditure. Meanwhile, the increase in dual-income households also contributes to a rise in the savings rate (a decline in propensity to consume), which is considered to be one reason why macroeconomic propensity to consume has declined since about 2013.

Suggested Citation

  • Ko Miura & Masato Higashi, 2017. "The Recent Increase in Dual-Income Households and Its Impact on Consumption Expenditure," Bank of Japan Review Series 17-E-7, Bank of Japan.
    • Handle: RePEc:boj:bojrev:rev17e07
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    File URL: http://www.boj.or.jp/en/research/wps_rev/rev_2017/data/rev17e07.pdf
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    Cited by:

    1. Nakajima, Jouchi, 2020. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 186-197.

    More about this item

    Keywords

    dual-income household; labor force participation; saving rate; propensity to consume;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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