Arbeitspapier

The low interest policy and the household saving behavior in Japan

zu Verbundenen Objekten

This paper scrutinizes the role of prolonged, expansionary monetary policy on the savings behavior of Japanese households, focusing on the dramatic change of the household savings behavior since 1998, from high to low savings. Existing literature generally attributes this behavioral change to the country's shift from a high-growth to a low-growth economy and its demographic change. In contrast, this paper empirically examines changes in the incentives for saving and the ability to save connected to monetary policy. It finds that monetary policy has had a significant impact on Japan's household behavior via three channels: the interest rate channel, the redistribution channel, and the wealth channel.

Sprache
Deutsch

Erschienen in
Series: Working Paper ; No. 159

Klassifikation
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Monetary Policy
Thema
household saving
interest-rate elasticity of saving
Japanese household savings
Bank of Japan
low interest rate policy

Ereignis
Geistige Schöpfung
(wer)
Latsos, Sophia
Ereignis
Veröffentlichung
(wer)
Universität Leipzig, Wirtschaftswissenschaftliche Fakultät
(wo)
Leipzig
(wann)
2019

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
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Objekttyp

  • Arbeitspapier

Beteiligte

  • Latsos, Sophia
  • Universität Leipzig, Wirtschaftswissenschaftliche Fakultät

Entstanden

  • 2019

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