Understanding Saving


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 Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters.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.




Waste


Book Description

No detailed description available for "Waste".




Personal Savings and Consumption in Postwar Japan


Book Description

Economic research study of personal savings and consumption behaviour of families in post-war Japan - covers the theoretics of consumption functions, the standard of living, trends, the influence of position in the occupational structure on family budgets, etc., and includes an international comparison of saving and consumption ratios. Diagrams and references.




Saving in Postwar Japan


Book Description

Analyzes the rates and determinants of savings in postwar Japan.




The Growth Idea


Book Description

Our narratives of postwar Japan have long been cast in terms almost synonymous with the story of rapid economic growth. Scott O’Bryan reinterprets this seemingly familiar history through an innovative exploration, not of the anatomy of growth itself, but of the history of growth as a set of discourses by which Japanese "growth performance" as "economic miracle" came to be articulated. The premise of his work is simple: To our understandings of the material changes that took place in Japan during the second half of the twentieth century we must also add perspectives that account for growth as a new idea around the world, one that emerged alongside rapid economic expansion in postwar Japan and underwrote the modes by which it was imagined, forecast, pursued, and regulated. In an accessible, lively style, O’Bryan traces the history of growth as an object of social scientific knowledge and as a new analytical paradigm that came to govern the terms by which Japanese understood their national purposes and imagined a newly materialist vision of social and individual prosperity. Several intersecting obsessions worked together after the war to create an agenda of social reform through rapid macroeconomic increase. Epistemological developments within social science provided the conceptual instruments by which technocrats gave birth to a shared lexicon of growth. Meanwhile, reformers combined prewar Marxist critiques with new modes of macroeconomic understanding to mobilize long-standing fears of overpopulation and "backwardness" and argue for a growthist vision of national reformation. O’Bryan also presents surprising accounts of the key role played by the ideal of full employment in national conceptions of recovery and of a new valorization of consumption in the postwar world that was taking shape. Both of these, he argues, formed critical components in a constellation of ideas that even in the context of relative poverty and uncertainty coalesced into a powerful vision of a materially prosperous future. Even as Japan became the premier icon of the growthist ideal, neither the faith in rapid growth as a prescription for national reform nor the ascendancy of social scientific epistemologies that provided its technical support was unique to Japanese experience. The Growth Idea thus helps to historicize a concept of never-ending growth that continues to undergird our most basic beliefs about the success of nations and the operations of the global economy. It is a particularly timely contribution given current imperatives to reconceive ideas of purpose and prosperity in an age of resource depletion and global warming.




Welfare and Capitalism in Postwar Japan


Book Description

This book explains how postwar Japan managed to achieve a highly egalitarian form of capitalism despite meager social spending. Estevez-Abe develops an institutional, rational-choice model to solve this puzzle. She shows how Japan's electoral system generated incentives that led political actors to protect various groups that lost out in market competition. She explains how Japan's postwar welfare state relied upon various alternatives to orthodox social spending programs. The initial postwar success of Japan's political economy has given way to periods of crisis and reform. This book follows this story up to the present day. Estevez-Abe shows how the current electoral system renders obsolete the old form of social protection. She argues that institutionally Japan now resembles Britain and predicts that Japan's welfare system will also come to resemble Britain's. Japan thus faces a more market-oriented society and less equality.




Postwar Japan as History


Book Description

As they examine three related themes of postwar history, the authors describe an ongoing historical process marked by unexpected changes, such as Japan's extraordinary economic growth, and unanticipated continuities, such as the endurance of conservative rule. --From publisher's description.




Persistently Postwar


Book Description

From melodramas to experimental documentaries to anime, mass media in Japan constitute a key site in which the nation’s social memory is articulated, disseminated, and contested. Through a series of stimulating case studies, this volume examines the political and cultural representations of Japan’s past, showing how they have reinforced personal and collective narratives while also formulating new cultural meanings, both on a local scale and in the context of transnational media production and consumption. Drawing upon diverse disciplinary insights and methodologies, these studies collectively offer a nuanced account in which mass media function as much more than a simple ideological tool.




The Ambivalent Consumer


Book Description

A comparative examination of the ambivalence provoked, especially in East and Southeast Asia, by the global spread of "American" consumer culture.




IMF Staff Papers


Book Description

This paper discusses effects of inflation on economic development. A mild inflation may well encourage little, or no, evasion of the “inflation tax.” On the other hand, a strong inflation, and frequently a mild one also, will lead to community reactions which have effects like those of widespread tax evasion. A development policy may have wider aims than the encouragement of a high level of investment. Inflation has two effects on the desire for liquidity, which are related to the two basic reasons why individuals and businesses wish to hold liquid assets—the speculative and precautionary motives. Inflation increases the value of effective liquidity, thereby raising the community's desire for it, but it makes the most generally accepted store of liquidity unacceptable sources of protection. The control of inflation is only one of the problems facing a government wishing to encourage rapid economic development. The fight against illiteracy, the reform of bureaucratic practices, the building of basic sanitary facilities for the eradication of endemic diseases, the substitution of competitive for monopolistic trade practices, the encouragement of a widespread spirit of entrepreneurship, and the creation of an adequate amount of social capital, may be important prerequisites for rapid growth.