Does the Selfish Life-Cycle Model Apply in the Case of Japan?

Horioka, Charles Yuji

Does the Selfish Life-Cycle Model Apply in the Case of Japan?

Horioka, Charles Yuji

Institute of Social and Economic Research Discussion Papers, 2020, 1084, 1-22

アクセス数:239件（2025-07-11 12:33 集計）

固定URL: https://hdl.handle.net/11094/75948

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タイトル	Does the Selfish Life-Cycle Model Apply in the Case of Japan?
著者	NRID 1000090173632 1000090173632 著者名 Horioka, Charles Yuji
キーワード等	Age structure of the population
	aged
	altruism
	bequests
	bequest motives
	borrowing constraints
	consumption
	dissaving
	elderly
	estates
	household behavior
	household saving
	households
	inheritances
	intergenerational transfers
	Japan
	life-cycle hypothesis
	life-cycle model
	life-cycle theory
	liquidity constraints
	old age
	retirees
	saving
	saving motives
	selfishness
抄録	In this paper, we first provide a brief exposition of the simplest version of the selfish life cycle model or hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the literature on household saving behavior in Japan (with emphasis on the author’s own past research) to shed light on whether or not the selfish life-cycle model applies in the case of Japan. In particular, we survey the literature on the impact of the age structure of the population on the saving rate, the saving behavior of retired households, saving motives, the prevalence of bequests, bequest motives, tests of altruism, and the importance of borrowing (liquidity) constraints and show that almost all of the available evidence suggests that the selfish life-cycle model applies to a greater extent in Japan than it does in other countries. Finally, we discuss the policy implications of our findings.
出版者	The Institute of Social and Economic Research, Osaka University
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	1084
ページ	1-22
刊行年月	2020-03
言語	英語
ハンドルURL	https://hdl.handle.net/11094/75948
PISSN	0473453X
eISSN	24350982
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2020/DP1084.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2020, 1084, p. 1-22
DC.title	Does the Selfish Life-Cycle Model Apply in the Case of Japan?
DC.creator	Horioka, Charles Yuji
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2020-03
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2020/DP1084.pdf
DC.subject	Age structure of the population
	aged
	altruism
	bequests
	bequest motives
	borrowing constraints
	consumption
	dissaving
	elderly
	estates
	household behavior
	household saving
	households
	inheritances
	intergenerational transfers
	Japan
	life-cycle hypothesis
	life-cycle model
	life-cycle theory
	liquidity constraints
	old age
	retirees
	saving
	saving motives
	selfishness
DCTERMS.abstract	In this paper, we first provide a brief exposition of the simplest version of the selfish life cycle model or hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the literature on household saving behavior in Japan (with emphasis on the author’s own past research) to shed light on whether or not the selfish life-cycle model applies in the case of Japan. In particular, we survey the literature on the impact of the age structure of the population on the saving rate, the saving behavior of retired households, saving motives, the prevalence of bequests, bequest motives, tests of altruism, and the importance of borrowing (liquidity) constraints and show that almost all of the available evidence suggests that the selfish life-cycle model applies to a greater extent in Japan than it does in other countries. Finally, we discuss the policy implications of our findings.
DC.format	75948
citation_title	Does the Selfish Life-Cycle Model Apply in the Case of Japan?
citation_author	Horioka, Charles Yuji
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2020-03
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	1084
citation_firstpage	1
citation_lastpage	22
citation_public_url	https://hdl.handle.net/11094/75948
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2020/DP1084.pdf

Does the Selfish Life-Cycle Model Apply in the Case of Japan?

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