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ボーナス制度と家計貯蓄率―サーベイ・データによる再検証―, The Bonus System and the Household Saving Rate -Evidence from Japanese Household Data-

Author

Listed:
  • Shimizutani, Satoshi
  • Hori, Masahiro

Abstract

日本の高貯蓄率の要因については，これまで多くの仮説が提示されてきた．本研究は，その中からボーナス制度が家計貯蓄率を高めていると主張する「ボーナス仮説」を選び，金融広報中央委員会が毎年実施している「家計の金融資産に関する世論調査」のミクロデータを用いて，その検証を行った．実証結果によると，貯蓄率に影響を与える諸要因をコントロールしても，ボーナスを受け取っている世帯の貯蓄率は受け取っていない世帯に比べて明らかに高いことがわかった．しかし貯蓄率がプラスあるいはマイナスのサンプルに絞った場合には，ボーナスの受け取りが貯蓄率を有意に高めているという結果は得られず，ボーナス制度が貯蓄率に与えるプラスの影響は，ボーナスを受け取っていない世帯の中では貯蓄率がマイナスの世帯が不均等に多いという事実によってもたらされていることも明らかになった．, A number of hypotheses have been proposed to examine why Japan's household saving rate was high. This paper takes advantage of a micro-level data from Public Opinion Survey on Household Financial Assets and Liabilities to reexamine the effects of the bonus system on households' savings. We find the average saving rate of households with bonus payments is significantly higher than that of households not receiving a bonus, after controlling for several factors that might affect saving patterns. However, this observation reflects the fact that households with negative saving rate are unevenly clustered on the non-bonus group. The positive effect of bonus payments on household saving rate disappears once the sample is divided into households with positive and those with negative saving rate.

Suggested Citation

  • Shimizutani, Satoshi & Hori, Masahiro, 2005. "ボーナス制度と家計貯蓄率―サーベイ・データによる再検証―, The Bonus System and the Household Saving Rate -Evidence from Japanese Household Data-," Economic Review, Hitotsubashi University, vol. 56(3), pages 234-247, July.
    • Handle: RePEc:hit:ecorev:v:56:y:2005:i:3:p:234-247
    DOI: 10.15057/21527
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