TY - JOUR
T1 - What motivates single women to save? the case of Japan
AU - Kureishi, Wataru
AU - Wakabayashi, Midori
N1 - Funding Information:
Acknowledgments We are greatly indebted to Charles Yuji Horioka for his kind advice and comments throughout the process of writing this paper. We would also like to thank Setsuya Fukuda, Hidehiko Ichimura, Yukinobu Kitamura, Ayako Kondo, Colin McKenzie, Kei Sakata, Shizuka Sekita, and the participants at the Kansai Labor Economics Seminar, the Horioka seminar, the Empirical Micro Research Seminar at Tokyo University, the seminar at the National Institute of Population and Social Security Research, and the 2011 spring annual meeting of the Japanese Economic Association for their helpful comments and discussion. We are deeply indebted to the editor, S. Grossbard, and co-editor, F. Woolley, as well as to two anonymous referees for their very helpful comments. We also thank the Institute for Research on Household Economics for permitting us to use data from ‘‘the Japanese Panel Survey of Consumers (JPSC).’’ Finally, we are indebted to the Ministry of Education, Culture, Sports, Science and Technology of the Japanese government for the Grant-in-Aid for Scientific Research (#22330094, #24730262 and #22330083) supporting this research.
PY - 2013/12
Y1 - 2013/12
N2 - Using Japanese panel data, we analyze precautionary savings due to staying single in the presence of income uncertainty. Our panel analysis finds that compared with young women who are likely to get married within 3 years, those who are not plan to have 44 percent more savings for precautionary purposes, and 108 percent more for retirement. These results suggest that in facing higher risk of income fluctuation due to choosing to marry late or remain unmarried, young women intend to have more wealth to mitigate the income risk inherent in single life.
AB - Using Japanese panel data, we analyze precautionary savings due to staying single in the presence of income uncertainty. Our panel analysis finds that compared with young women who are likely to get married within 3 years, those who are not plan to have 44 percent more savings for precautionary purposes, and 108 percent more for retirement. These results suggest that in facing higher risk of income fluctuation due to choosing to marry late or remain unmarried, young women intend to have more wealth to mitigate the income risk inherent in single life.
KW - Marriage
KW - Precautionary savings
KW - Single women
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U2 - 10.1007/s11150-013-9191-z
DO - 10.1007/s11150-013-9191-z
M3 - Article
AN - SCOPUS:84886287185
VL - 11
SP - 681
EP - 704
JO - Review of Economics of the Household
JF - Review of Economics of the Household
SN - 1569-5239
IS - 4
ER -