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Japan's Household Saving Rate and the Bonus System(in Japanese)

Author

Listed:
  • SHIMIZUTANI Satoshi
  • HORI Masahiro

Abstract

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 surely higher than that of households without bonus, after controlling several factors that might affect saving patterns. However, this observation reflects 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. "Japan's Household Saving Rate and the Bonus System(in Japanese)," ESRI Discussion paper series 139, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esj:esridp:139
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    File URL: http://www.esri.go.jp/jp/archive/e_dis/e_dis139/e_dis139a.pdf
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    More about this item

    Keywords

    Japan's saving rate; bonus system JEL classification: D12; E21;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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