| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11560 |
| 来源ID | Working Paper 11560 |
| Borrowing Constraints and Consumption Behavior in Japan | |
| Midori Wakabayashi; Charles Yuji Horioka | |
| 发表日期 | 2005-08-22 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | In this paper, we use Japanese micro data to examine what characteristics borrowing-constrained households have and whether borrowing constraints have an important influence on household consumption behavior. We identify borrowing-constrained households using three different indicators, some of which are unique to our data source, and find that the characteristics of households that are likely to be borrowing-constrained differ depending on which of the three indicators we use. We also find that changes in current income have a positive and significant impact on changes in consumption in the case of households that are likely to be borrowing-constrained but not in the case of households that are unlikely to be borrowing-constrained. This result suggests that borrowing constraints have an important influence on household consumption behavior and that the presence of borrowing constraints is one explanation for why the life cycle-permanent income hypothesis does not hold in the real world. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Macroeconomics ; Consumption and Investment ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w11560 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569204 |
| 推荐引用方式 GB/T 7714 | Midori Wakabayashi,Charles Yuji Horioka. Borrowing Constraints and Consumption Behavior in Japan. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11560.pdf（574KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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