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Risk-coping behaviors in metropolis: Evidence from working-class households in Prewar Tokyo

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  • Ogasawara, Kota

Abstract

I analyze the risk-coping strategies of factory–worker households in early twentieth-century Tokyo. I digitized a unique daily longitudinal household budget survey conducted in Tsukishima, a representative manufacturing area, to examine how consumption was affected by idiosyncratic shocks. I find that although the households were vulnerable and their consumption levels were impacted by these shocks, the estimated income elasticity of indispensable consumption was relatively low in the short run. The results of the mechanism analysis suggest that credit purchases from local retailers helped smooth short-run consumption, highlighting the role of informal credit institutions in mitigating vulnerability among urban worker households.

Suggested Citation

  • Ogasawara, Kota, 2026. "Risk-coping behaviors in metropolis: Evidence from working-class households in Prewar Tokyo," Explorations in Economic History, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:exehis:v:99:y:2026:i:c:s0014498325000695
    DOI: 10.1016/j.eeh.2025.101722
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    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • N35 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Asia including Middle East

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