Are Americans More Altruistic Than the Japanese? A U.S.-JAPAN Comparison of Saving and Bequest Motives *

Horioka, Charles Yuji; Fujisaki, Hideki; Watanabe, Wakō; Kouno, Takatsugu

doi:10.1080/10168730000080001

Cited by 39 publications

(8 citation statements)

References 18 publications

(15 reference statements)

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“…We investigate the role of TFP growth and demographics for the future course of the national saving rate using a computable general equilibrium model as in Auerbach and Kotlikoff (1987). Our model maintains the life‐cycle hypothesis of Modigliani and Brumberg (1954), a choice motivated by recent findings of Hayashi (1995), Horioka et al (2000), and Horioka (2002). Hayashi (1995) estimates Engel curves for Japanese households and finds that they are inconsistent with the hypothesis that bequest motives are important.…”

Section: Introductionmentioning

confidence: 80%

“…Hayashi (1995) estimates Engel curves for Japanese households and finds that they are inconsistent with the hypothesis that bequest motives are important. Horioka et al (2000) argue, more generally, that survey evidence of Japanese households is much more consistent with the life‐cycle hypothesis than the alternatives of altruistic or dynastic households. In a model populated by overlapping generations (OLG) of life‐cycle consumers, demographic changes such as the aging of a baby boom generation, lower fertility, and increased longevity can cause significant changes in the national saving rate.…”

Section: Introductionmentioning

confidence: 89%

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The Saving Rate in Japan: Why It Has Fallen and Why It Will Remain Low*

Braun

Ikeda

Joines

2009

Int Economic Review

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Japan is in the midst of a demographic transition that is larger and more rapid than other OECD countries. We are interested in understanding the role of lower fertility rates and aging for the evolution of Japan's national saving rate. We use a computable general equilibrium model to analyze the response of the saving rate to changes in demographics and total factor productivity. In our model demographic factors account for 2-3 percentage points of the 9% decline in the saving rate between 1990 and 2000 and persistently depress the saving rate in future years. Copyright � (2009) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Section: Introductionmentioning

confidence: 80%

Section: Introductionmentioning

confidence: 89%

The Saving Rate in Japan: Why It Has Fallen and Why It Will Remain Low*

Braun

Ikeda

Joines

2009

Int Economic Review

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“…, 2000). People often save primarily for retirement and other unforeseeable events in their life course, therefore, some surveys on bequest motives suggest much of the bequests are not necessarily planned but are either accidental or unintended (Horioka et al. , 2000).…”

Section: Post‐war Accumulation Of Assetsmentioning

confidence: 99%

Residential Property, Cultural Practices and the ‘Generational Contract’ in England and Japan

Izuhara

2005

Int J Urban Regional Res

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revisits the critical question: Is there such a thing as a 'generational contract' between care and inheritance? Method and approachEmpirical evidence in this article was drawn from fieldwork conducted in a mediumsize post-industrial city in both England and Japan in 2002, using in-depth interviews with 54 older people (40 individuals and 7 couples) in total. The prospective informants were identified through purposive sampling based on the selection criteria of those who:(1) were aged between 60 and 86; (2) had children; and (3) were or had been a homeowner. The research included both men and women of varying marital status (married, widowed and divorced). Two different housing sectors -owner-occupiers and those who had sold their house and moved into different types of supported housing -were further defined in order to illustrate their decision-making processes regarding long-term care needs and bequest motives. Prospective informants were sought and recruited through a variety of means. In addition to relevant housing developments, various groups and agencies working with older people, such as Care & Repair and the network of the University of the Third Age in England and home help service providers in Japan, were approached. In both cities, some informants were also recruited through personal contacts and a snowballing technique was subsequently applied to expand access to potential informants. All interviews with older people were undertaken in their own home by the author. Follow-up research among the younger generation is planned in order to triangulate the views expressed by the older informants and also highlight the changing trends of intergenerational relations.Although data for Britain or the UK are occasionally referred to in this article, most of the interpretative comparisons are with England. This is because the different parts of the UK have, to a varying extent, separate legal traditions and policies. In addition, in the context of an increasingly multicultural society, it is difficult to reflect the diversity of family traditions and relations now found in the British Isles. The discussion is therefore particularly focused on family relations in the 'white' English population, on which the interviews are based.

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“…For example, Horioka et al. () and Horioka (, ) find that the proportion of respondents planning to leave a larger share of their bequest to children who provide more care is much higher in Japan than in the United States (29.2% in Japan vs. 3.1% in the United States in the case of Horioka et al., , and Horioka, , and 20.5% in Japan vs. 2.5% in the United States in the case of Horioka, ). These results also suggest that the strategic bequest (exchange) motive is much more applicable in Japan than it is in the United States (see also Horioka, , ).…”

Section: Survey Of Previous Empirical Studiesmentioning

confidence: 99%

Why Do Children Take Care of Their Elderly Parents? Are the Japanese Any Different?

Horioka

Gahramanov

Hayat

et al. 2018

Int Economic Review

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Asian Development Bank InstituteThe Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI's working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. Charles Yuji Horioka is vice president and research professor at the Asian Growth Research Institute, Kitakyushu, Japan. Emin Gahramanov is associate professor at the American University of Sharjah, Sharjah, United Arab Emirates. Aziz Hayat and Xueli Tang are senior lecturers at Deakin University, Melbourne Burwood Campus, Burwood, Australia.The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.Working papers are subject to formal revision and correction before they are finalized and considered published. AbstractWe conduct a theoretical and empirical analysis of why children live with (or near) their parents and provide care and assistance to them using microdata from a Japanese household survey, the Osaka University Preference Parameter Study. We find that the Japanese are more likely to live with (or near) their elderly parents and/or to provide care and attention to them if they expect to receive a bequest from them, which constitutes strong support for the strategic bequest motive, but that their caregiving behavior is also heavily influenced by the strength of their altruism toward their parents and social norms.

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Are Americans More Altruistic Than the Japanese? A U.S.-JAPAN Comparison of Saving and Bequest Motives *

Cited by 39 publications

References 18 publications

The Saving Rate in Japan: Why It Has Fallen and Why It Will Remain Low*

The Saving Rate in Japan: Why It Has Fallen and Why It Will Remain Low*

Residential Property, Cultural Practices and the ‘Generational Contract’ in England and Japan

Why Do Children Take Care of Their Elderly Parents? Are the Japanese Any Different?

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