A Cointegration Analysis of the Impact of the Age Structure of the Population on the Household Saving Rate in Japan
使用1955-1993年日本时间序列数据，通过协整方法分析人口年龄结构对家庭储蓄率的影响，发现未成年人和老年人口占比均显著降低储蓄率，支持生命周期模型在日本也适用。
This paper analyzes the impact of the age structure of the population on Japan's household saving rate by applying cointegration techniques to time-series data for the 1955–1993 period. It finds that the ratio of minors to the working-age population and that of the aged to the working-age population both have a negative and significant impact on the household saving rate. This finding suggests that the life-cycle model applies even in a country such as Japan, in which this model is less likely to apply due to cultural peculiarities such as the greater prevalence of intergenerational transfers. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology