The Life Cycle of Saving in Japan and Italy: an institutional perspective

Abstract

The aim of this research is to provide an analysis of the Life Cycle of Saving in Italy and Japan over the last decades, with a focus on the institutional context. Chapter 1 and 2 present a quantitative analysis of disposable income, consumption, saving and the saving rate in the two countries, by the age of the household’s head. Moreover, in order to have a larger view on the economic phenomenon, stock measures as financial assets, liabilities and net wealth are analysed too. The comparability of the results is ensured by the adaptation of the data to the same definition terms. Data about Japan were obtained directly in the form of mean measures from the website of the Statistics Bureau of Japan and refer to the 2000, 2005, 2010, 2015 and 2019 Family Income and Expenditure Survey. Concerning data about Italian households, the findings are based on the 2000, 2004, 2008, 2012 and 2016 Survey on Household Income and Wealth, published by the Bank of Italy. In contrast with the Japanese data, the results are not given in the form of mean measures but the whole samples are available. The variables referring to Italy were thus estimated throughout the software for statistical computing Rstudio. Finally, chapter 3 offers a comparison between the outcomes of the two countries and inquires the possible influences of the institutional context on their differences.