Why do some countries save more than others?
AbstractSome countries have the resources and capacity to save more than the other countries. This paper analyses the determinants of annual saving. The analysis uses the optimal saving function which is derived from the household inter-temporal utility maximisation. The predictions from the comparative statics are compared with micro survey data in Japan and the US. In addition, the preference of inter-temporal consumptions is estimated. These comparisons and estimations suggest that higher annual saving could be explained by higher income, lower interest rates, shorter saving spans, longer retirement spans, and higher preference for retirement-span consumption.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. 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.
Bibliographic InfoPaper provided by Monash University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number g-142.
Date of creation: Feb 2004
Date of revision:
Contact details of provider:
Postal: 11th Floor, Menzies Building, Wellington Road, Clayton, Victoria, 3168
Phone: 03 9905 2398
Fax: 03 9905 2426
Web page: http://www.monash.edu.au/policy/index.htm
More information through EDIRC
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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.:
- Horioka, C.Y. & Watanabe, W., 1996.
"Why Do People Save? A Micro-Analysis of Motives for Household Saving in Japan,"
ISER Discussion Paper
0412, Institute of Social and Economic Research, Osaka University.
- Horioka, Charles Yuji & Watanabe, Wako, 1997. "Why Do People Save? A Micro-Analysis of Motives for Household Saving in Japan," Economic Journal, Royal Economic Society, vol. 107(442), pages 537-52, May.
- Horioka, Charles Yuji, 1990. "Why is Japan's household saving rate so high? A literature survey," Journal of the Japanese and International Economies, Elsevier, vol. 4(1), pages 49-92, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Horridge).
If references are entirely missing, you can add them using this form.