Leadership

The (Dis)Saving Behavior Of The Aged In Japan

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Executive Summary

In this paper, the author surveys the previous literature on the saving behavior of the aged in Japan and then presents some survey data on the saving behavior of the aged in Japan that became available recently. To summarize the main findings of this paper, virtually all previous studies as well as the newly available data the author analyzes and finds that the retired aged dissave and that even the working aged dissave, at least at advanced ages. Moreover, there has been a sharp increase in the dissaving of the retired aged since 2000, with the increase being due primarily to reductions in social security benefits, increases in consumption expenditures, and increases in taxes and social insurance premiums.

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