Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/92836 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
ISER Discussion Paper No. 640
Verlag: 
Osaka University, Institute of Social and Economic Research (ISER), Osaka
Zusammenfassung: 
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.
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
270.32 kB





Publikationen in EconStor sind urheberrechtlich geschützt.