ヤマダ トモアキ   Yamada Tomoaki
  山田 知明
   所属   明治大学  商学部
   職種   専任教授
言語種別 英語
発行・発表の年月 2009/09
形態種別 学術雑誌
査読 査読有り
標題 Nonlinear Income Variance Profile and Consumption Inequality over the Life Cycle
執筆形態 共著(筆頭者以外)
掲載誌名 Journal of the Japanese and International Economies
巻・号・頁 23(3),pp.344-366
著者・共著者 Naohito Abe
概要 In contrast with many other countries, consumption inequalities in Japan are not constant over household age but increase from around middle age -a fact first highlighted by Ohtake and Saito (1998). Given this, the purpose of this paper is to examine whether this phenomenon is consistent with the standard precautionary saving model developed by Carroll (1997). Specifically, we investigate: (1) the degree of age dependence of idiosyncratic income risks; and (2) the importance of age dependence for the evolution of inequalities in consumption predicted by the household model of Carroll (1997). We find a strong age dependence of income risks, which creates a nonlinear age--variance profile of income, and that the standard precautionary saving model is consistent with the observed consumption inequalities as long as we take the nonlinearity in age-variance profiles of income into account.
DOI 10.1016/j.jjie.2009.04.001