MARKET VALUE ESTIMATES OF JAPANESE SAVING AND COMPARISONS WITH THE UNITED-STATES - CAN THE CAPITAL GAINS TO LAND BE INCLUDED IN SAVING

Authors
DEKLE R
Citation
R. Dekle, MARKET VALUE ESTIMATES OF JAPANESE SAVING AND COMPARISONS WITH THE UNITED-STATES - CAN THE CAPITAL GAINS TO LAND BE INCLUDED IN SAVING, Japan and the world economy, 6(1), 1994, pp. 27-44
Citations number
17
Categorie Soggetti
Economics
Journal title
Japan and the world economy → ACNP
ISSN journal
09221425
Volume
6
Issue
1
Year of publication
1994
Pages
27 - 44
Database
ISI
SICI code
0922-1425(1994)6:1<27:MVEOJS>2.0.ZU;2-S
Abstract
In this paper, we show that the market value of Japanese saving is muc h higher than that in the United States. Much of the difference in the market value saving rates comes from the difference in the prices of land in the two countries. We perform several 'consumption-based' test s to show that at least a fraction of the rise in the value of land ca n be included in the change in wealth or 'saving'.