The Japanese Saving Rate
Despite much work, economists have not been able to quantitatively account for the differences in the Japanese and U.S. saving rates after World War II. In this paper, we show that the use of actual Japanese total factor productivity growth rates in a standard growth model generates saving rates that are reasonably similar to the Japanese data between 1956 and 2000. (JEL E21, E22, O41, O47)
Volume (Year): 96 (2006)
Issue (Month): 5 (December)
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"Saving and Interest Rates in Japan: Why They Have Fallen and Why They Will Remain Low,"
CIRJE-F-328, CIRJE, Faculty of Economics, University of Tokyo.
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- R. Anton Braun & Daisuke Ikeda & Douglas H. Joines, 2006. "Saving and interest rates in Japan: why they have fallen and why they will remain low," Working Paper Series 2006-39, Federal Reserve Bank of San Francisco.
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"Effective tax rates in macroeconomics: Cross-country estimates of tax rates on factor incomes and consumption,"
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- Enrique G. Mendoza & Assaf Razin & Linda L. Tesar, 1994. "Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption," NBER Working Papers 4864, National Bureau of Economic Research, Inc.
- Lawrence J. Christiano, 1989. "Understanding Japan's saving rate: the reconstruction hypothesis," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 10-25.
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