The Wealth Decumulation Behavior of the Retired Elderly in Japan : The Relative Importance of Precautionary Saving and Bequest Motives

Material type: 文書・図像類

Author: Niimi, Yokoほか

Publisher: The Institute of Social and Economic Research, Osaka University

Publication date: 2018-10

Material Format: Paper

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Note (General)：: This paper analyzes the determinants of the wealth decumulation behavior of the retired elderly in Japan using unique information from two household s...

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Paper

Material Type: 文書・図像類
Title: The Wealth Decumulation Behavior of the Retired Elderly in Japan : The Relative Importance of Precautionary Saving and Bequest Motives
Author/Editor: Niimi, Yoko
Horioka, Charles Yuji
Author Heading: Niimi, Yoko
https://nrid.nii.ac.jp/nrid/1000030742647
Horioka, Charles Yuji
https://nrid.nii.ac.jp/nrid/1000090173632
Publication, Distribution, etc.: The Institute of Social and Economic Research, Osaka University
Publication Date: 2018-10
Publication Date (W3CDTF): 2018-10
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 1042
Volume: 1042
Pages: 1-36
Text Language Code: eng
Subject Heading: Aged
bequests
dissaving
Japan
life-cycle model
precautionary saving
retired elderly
saving
wealth decumulation
Target Audience: 一般
Note (General): This paper analyzes the determinants of the wealth decumulation behavior of the retired elderly in Japan using unique information from two household surveys, and by so doing, attempts to assess the relative importance of precautionary saving and bequest motives in explaining the lower than expected rates of wealth decumulation of the retired elderly. Taken together, our analyses of these two datasets show that precautionary saving plays a relatively important role in explaining the lower than expected wealth decumulation rate of the retired elderly, at least in the case of Japan, even though both precautionary saving and bequest motives are important drivers behind this puzzle. Our results also suggest the possibility that financial burden of parental care may also affect the wealth decumulation behavior of the retired elderly in Japan. Given that parental care responsibilities tend to arise relatively late in life, often after retirement, in the case of Japan, our results suggest that the financial burden of parental care may be a relevant issue when analyzing the wealth decumulation behavior of the elderly.
References (URI): http://www.iser.osaka-u.ac.jp/library/dp/2018/DP1042.pdf
URI
http://www.iser.osaka-u.ac.jp/library/dp/2018/DP1042.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華