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Are the Japanese Unique? An Analysis of Consumption and Saving Behavior in JapanCharles Yuji HoriokaOsaka University - Institute of Social and Economic Research (ISER); National Bureau of Economic Research (NBER) June 2004 ISER Discussion Paper No. 606 Abstract: In this paper, I conduct an analysis of consumption and saving behavior in Japan, looking both at trends over time and comparisons with the other industrialized countries. I find that some of the conventional wisdoms (that the Japanese are asset-rich and hold conservative portfolios) still hold but that others (that the Japanese are high savers and shun borrowing) no longer hold and that the Japanese are not unique, with the United States and the other Anglo-Saxon countries being the true exceptions in many respects.
Number of Pages in PDF File: 36 Keywords: Japan, households, consumers, consumption, saving, wealth, borrowing, debt, portfolio JEL Classification: D12, D14, D19, E21 working papers seriesDate posted: June 23, 2004Suggested CitationContact Information
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