The Japanese Saving Rate

Despite much work, economists have not been able to quantitatively account for the differences in the Japanese and U.S. saving rates after World War II. In this paper, we show that the use of actual Japanese total factor productivity growth rates in a standard growth model generates saving rates tha...

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Veröffentlicht in:	The American economic review 2006-12, Vol.96 (5), p.1850-1858
Hauptverfasser:	Chen, Kaiji, İmrohoroğlu, Ayşe, İmrohoroğlu, Selahattin
Format:	Artikel
Sprache:	eng
Schlagworte:	Aggregates Calibration Capital income Capital stock Comparative studies Consumption Depreciation rates Economic growth Economic growth models Economic growth rate Economic models Economics Growth models Growth rate Households Investments Personal finance Population growth Population growth rate Productivity Savings Savings rates Shorter Papers Steady state economies Stock shares Tax rates Time series Utility functions
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Beschreibung
Zusammenfassung:	Despite much work, economists have not been able to quantitatively account for the differences in the Japanese and U.S. saving rates after World War II. In this paper, we show that the use of actual Japanese total factor productivity growth rates in a standard growth model generates saving rates that are reasonably similar to the Japanese data between 1956 and 2000.
ISSN:	0002-8282 1944-7981
DOI:	10.1257/aer.96.5.1850