Younger Households Saving: Evidence From Japan and Italy
Albert Ando, Luigi Guiso, Daniele Terlizzese, Daniel Dorsainvil
NBER Working Paper No. 3871
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.
Document Object Identifier (DOI): 10.3386/w3871
Published: Scandinavian Journal of Economics, Vol. 2, (1991).
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