Understanding Savings by Fumio Hayashi
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Understanding Savings
By Fumio Hayashi

Understanding Savings

Evidence from the United States and Japan

By (author) See other recent books by Fumio Hayashi
Format: Hardback

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Understanding Savings by Fumio Hayashi

Book Description

Analysis of consumption and saving decisions by households has always been one of the most active areas of research in economics--and with good reason. Private consumption is the most important component of aggregate demand in a capitalist economy, and explaining consumption is the key element in most macroeconomic forecasting models. To evaluate the effect of government policies invariably requires the knowledge of how they change parameters relevant for household decision making.Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters. The monograph, which brings together Hayashi's empirical research on saving, is divided into three sections. Part I, "Liquidity Constraints", contains five studies that test the well-known implication of the Life Cycle-Permanent Income hypothesis that households shield consumption from income fluctuations. Part II, "Risk-Sharing and Altruism", contains three papers that examine the interactions between related and unrelated households predicted by the hypothesis for the US and Japanese households. The three papers in Part III, "Japanese Saving Behavior", present the author's explanation of the high saving rate in postwar Japan.

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Book Details

ISBN: 9780262082556
ISBN-10: 0262082551
Format: Hardback
(229mm x 152mm x 33mm)
Pages: 492
Imprint: MIT Press
Publisher: MIT Press Ltd
Publish Date: 29-Aug-1997
Country of Publication: United States

Books By Author Fumio Hayashi

Structural Impediments to Growth in Japan by Fumio Hayashi Structural Impediments to Growth in Japan, Hardback (December 2003)

A team of notable editors and contributors present nine papers offering a comprehensive assessment of the long economic stagnation in Japan and the long-term challenges ahead.

Econometrics by Fumio Hayashi Econometrics, Hardback (October 2000)

Introducing first year PhD students to standard graduate econometrics material, this work covers the standard material necessary for understanding the principal techniques of econometrics from ordinary least squares through cointegration. It is useful for those who intend to write a thesis on applied topics and also for the theoretically inclined.

» View all books by Fumio Hayashi

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