Household savings in Japan revisited

This paper investigates the household saving and wealth holding behavior in Japan, especially after the burst of the bubble economy in the 1990s. While the saving behavior we found in our previous study (Takayama and Kitamura (1994)) remains in general, the cohort analysis sheds new light on the saving behavior in Japan. With a careful construction of the cohort data, life-cycle (age) effect, time series effect, and cohort effect can be distinguished clearly. It provides valuable information to policy makers