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Are the Japanese Selfish, Altruistic, or Dynastic?

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Charles Yuji Horioka

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Abstract

In this paper, I analyze a variety of evidence for Japan and, where available, for the United States on bequest practices, on the importance and nature of bequest motives, on bequest division, on the willingness of individuals to help others, etc., in order to shed light on which model of household behavior applies in the two countries. My results suggest that the selfish life cycle model is the dominant model of household behavior in both countries but that it is far more applicable in Japan than it is in the U.S., that the dynasty model is also more applicable in Japan than it is in the U.S. but that it is not of dominant importance even in Japan, and conversely, that the altruism model is far more applicable in the U.S. than it is in Japan.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8577.

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Date of creation: Nov 2001
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Handle: RePEc:nbr:nberwo:8577

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Find related papers by JEL classification:
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
D64 - Microeconomics - - Welfare Economics - - - Altruism

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References listed on IDEAS
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.:
  1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec.. [Downloadable!] (restricted)
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  1. Jonathan Skinner & Stephen P. Zeldes, 2002. "The Importance of Bequests and Life-Cycle Saving in Capital Accumulation: A New Answer," American Economic Review, American Economic Association, vol. 92(2), pages 274-278, May. [Downloadable!]
  2. Midori Wakabayashi & Charles Y. Horioka, 2006. "Is the Eldest Son Different? The Residential Choice of Siblings in Japan," NBER Working Papers 12655, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Charles Yuji Horioka & Wataru Suzuki & Tatsuo Hatta, 2007. "Aging, Saving, and Public Pensions in Japan," ISER Discussion Paper 0692, Institute of Social and Economic Research, Osaka University. [Downloadable!]
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  4. Gregory Ponthiere, 2007. "Monetizing Longevity Gains under Welfare Interdependencies: An Exploratory Study," Journal of Family and Economic Issues, Springer, vol. 28(3), pages 449-469, September. [Downloadable!] (restricted)
  5. Charles Yuji Horioka, 2009. "Do Bequests Increase or Decrease Wealth Inequalities?," NBER Working Papers 14639, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Charles Yuji Horioka, 2007. "A Survey of Household Saving Behavior in Japan," ISER Discussion Paper 0684, Institute of Social and Economic Research, Osaka University. [Downloadable!]
  7. Cerny, Ales & Miles, David K & Schmidt, Lubomir, 2005. "The Impact of Changing Demographics and Pensions on The Demand for Housing and Financial Assets," CEPR Discussion Papers 5143, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  8. Ken Yamada, 2003. "Intra-family Transfers in Japan: Intergenerational Co-residence, Distance, andContact," ISER Discussion Paper 0575, Institute of Social and Economic Research, Osaka University. [Downloadable!]
    Other versions:
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