Japan JSPS Program: The Wealth and Income Distributions of Saving: A Comparative Study of Japan and the US

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9600308 Campbell This award supports a 12 month Japan Society for the Promotion of Science (JSPS) Postdoctoral Fellowship for Dr. David Campbell at the Institute for Social Science, University of Tokyo, Tokyo, Japan. Dr. Campbell will work with Dr. Masahiro Kawai, professor of economics, on a research project entitled, "The Wealth and Income Distribution of Saving: A Comparative Study of Japan and the United States." The proposed research will identify the socio-economic groups which drive aggregate saving in Japan and the United States and assess how these groups acquired their wealth. Substantial empirical evidence exists that suggests that the wealthy dominate aggregate saving in the United States and that much of this wealth results from inheritances. If this result can be generalized to Japan it would represent a major difference in how we view aggregate saving. Using micro-data from the two wealth surveys previously conducted in Japan, Dr. Campbell will compute the wealth and income distributions of saving for the period 1988 to 1994 and undertake a comparative analysis of the results with those from the US. The results of the analysis will provide insight into current economic theory as it relates to saving and practical suggestions for the creation of institutional structures that encourage higher saving rates. ***