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The retirement consumption puzzle in Japan

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  • Midori Wakabayashi

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Abstract

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Suggested Citation

  • Midori Wakabayashi, 2008. "The retirement consumption puzzle in Japan," Journal of Population Economics, Springer;European Society for Population Economics, vol. 21(4), pages 983-1005, October.
  • Handle: RePEc:spr:jopoec:v:21:y:2008:i:4:p:983-1005 DOI: 10.1007/s00148-006-0113-8
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    References listed on IDEAS

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    1. Banks, James & Blundell, Richard & Tanner, Sarah, 1998. "Is There a Retirement-Savings Puzzle?," American Economic Review, American Economic Association, pages 769-788.
    2. Attanasio, Orazio P, et al, 1999. "Humps and Bumps in Lifetime Consumption," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(1), pages 22-35, January.
    3. Steven J. Haider & Melvin Stephens, 2007. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 247-264, May.
    4. Michael Hurd & Susann Rohwedder, 2003. "The Retirement-Consumption Puzzle: Anticipated and Actual Declines in Spending at Retirement," NBER Working Papers 9586, National Bureau of Economic Research, Inc.
    5. Pierre-Olivier Gourinchas & Jonathan A. Parker, 2002. "Consumption Over the Life Cycle," Econometrica, Econometric Society, vol. 70(1), pages 47-89, January.
    6. Hubbard, R Glenn & Skinner, Jonathan & Zeldes, Stephen P, 1995. "Precautionary Saving and Social Insurance," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 360-399, April.
    7. Orazio P. Attanasio & Guglielmo Weber, 1993. "Consumption Growth, the Interest Rate and Aggregation," Review of Economic Studies, Oxford University Press, vol. 60(3), pages 631-649.
    8. Raffaelle Miniaci & Chiara Monfardini & Guglielmo Weber, 2003. "Is there a retirement consumption puzzle in Italy?," IFS Working Papers W03/14, Institute for Fiscal Studies.
    9. Kotlikoff, Laurence J & Spivak, Avia & Summers, Lawrence H, 1982. "The Adequacy of Savings," American Economic Review, American Economic Association, pages 1056-1069.
    10. John Ameriks & Andrew Caplin & John Leahy, 2007. "Retirement Consumption: Insights from a Survey," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 265-274, May.
    11. Kotlikoff, Laurence J & Spivak, Avia & Summers, Lawrence H, 1982. "The Adequacy of Savings," American Economic Review, American Economic Association, pages 1056-1069.
    12. Kotlikoff, Laurence J. & Smith, Daniel E., 1984. "Pensions in the American Economy," National Bureau of Economic Research Books, University of Chicago Press, edition 0, number 9780226451466.
    13. B. Douglas Bernheim & Jonathan Skinner & Steven Weinberg, 2001. "What Accounts for the Variation in Retirement Wealth among U.S. Households?," American Economic Review, American Economic Association, pages 832-857.
    14. Eric Maskin & Yingyi Qian & Chenggang Xu, 2000. "Incentives, Information, and Organizational Form," Review of Economic Studies, Oxford University Press, pages 359-378.
    15. Ashiya, Masahiro, 2000. "Weak entrants are welcome," International Journal of Industrial Organization, Elsevier, pages 975-984.
    16. Horioka, Charles Yuji & Okui, Megumi, 1999. "A U.S.-Japan comparison of the importance and determinants of retirement saving," Economics Letters, Elsevier, vol. 65(3), pages 365-371, December.
    17. B. Douglas Bernheim & Jonathan Skinner & Steven Weinberg, 2001. "What Accounts for the Variation in Retirement Wealth among U.S. Households?," American Economic Review, American Economic Association, pages 832-857.
    18. McClements, L. D., 1977. "Equivalence scales for children," Journal of Public Economics, Elsevier, pages 191-210.
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    Citations

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    Cited by:

    1. Antoine Bozio & Guy Laroque & Cormac O’Dea, 2017. "Discount rate heterogeneity among older households: a puzzle?," Journal of Population Economics, Springer;European Society for Population Economics, pages 647-680.
    2. Toshiyuki Uemura & Yoshimi Adachi & Tomoki Kitamura, 2017. "Effects of Individual Resident Tax on the Consumption of Near-Retired Households in Japan," Discussion Paper Series 161, School of Economics, Kwansei Gakuin University, revised May 2017.
    3. Yingying Dong & Dennis Yang, 2016. "Mandatory Retirement and the Consumption Puzzle: Prices Decline or Quantities Decline?," Upjohn Working Papers and Journal Articles 16-251, W.E. Upjohn Institute for Employment Research.
    4. repec:bla:ecinqu:v:55:y:2017:i:4:p:1738-1758 is not listed on IDEAS
    5. Jonathan Fisher & Joseph Marchand, 2014. "Does the retirement consumption puzzle differ across the distribution?," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, pages 279-296.
    6. Stephens, Melvin & Unayama, Takashi, 2012. "The impact of retirement on household consumption in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 26(1), pages 62-83.
    7. Daniel Burkhard, 2015. "Consumption smoothing at retirement: average and quantile treatment effects in the regression discontinuity design," Diskussionsschriften dp1512, Universitaet Bern, Departement Volkswirtschaft.
    8. Velarde, Melanie & Herrmann, Roland, 2014. "Time use for consumption and household production of food: is there a retirement-consumption puzzle in Germany?," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182829, European Association of Agricultural Economists.
    9. Li, Hongbin & Shi, Xinzheng & Wu, Binzhen, 2016. "The retirement consumption puzzle revisited: Evidence from the mandatory retirement policy in China," Journal of Comparative Economics, Elsevier, pages 623-637.
    10. repec:eee:joecag:v:3:y:2014:i:c:p:1-10 is not listed on IDEAS
    11. repec:dau:papers:123456789/9826 is not listed on IDEAS

    More about this item

    Keywords

    Retirement consumption puzzle; Life cycle model; Japanese consumption behavior; D12; D91; E21;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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