NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Younger Households Saving: Evidence From Japan and Italy

Albert Ando, Luigi Guiso, Daniele Terlizzese, Daniel Dorsainvil

NBER Working Paper No. 3871
Issued in October 1991
NBER Program(s):   ITI   IFM

Both young and old consumers appear to dissave too little for their behaviour to be consistent with a strict life cycle model. We concentrate on young households and document their behaviour drawing from Italian and Japanese data. We also provide a theoretical set-up which can account for the observed fact without relying on assumptions about the working of credit markets or the degree of foresight of consumers.

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Document Object Identifier (DOI): 10.3386/w3871

Published: Scandinavian Journal of Economics, Vol. 2, (1991).

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