This paper is a critique of the literature on transfer wealth accumulation in Japan during the postwar period. The emphasis is on selected works in two areas that are closely related: the accumulation of wealth by the elderly in extended families in Japan, and the distribution of wealth within...

This paper measures, via the cumulation of life cycle saving method, the contribution of transfer to total wealth accumulation among worker households from 1974 to 1984. The findings suggest that under either the Modigliam or Kotlifoff and Summers definitions of transfer wealth, capital...

Constructing a strong and unique instrument for bank capital from the empirical observation of Japanese banks' past behavioral changes, we identify the impact of capital adequacy on the allocation of bank lending supply across low quality and high quality borrowers. We find that, in FY 1997, a...

The underlying causes of sharp declines in bank lending during recessions in large developed economies, as exemplified by the U.S. in the early 1990s and Japan in the late 1990s, are still being debated due to a lack of any convincing identification strategy of the supply side capital-lending...

Using unique survey data which includes information on precautionary wealth and its target, we analyze the precautionary saving behavior of Japanese households. Our findings are: 1. Measures for income uncertainty have a positive influence on the target for precautionary wealth but not on...

The main purpose of this paper is to present the empirical findings derived from the data of small firms that the availability of private and public information on the borrowing firm leads to diverse borrowing patterns among firms. Exploring logit models to characterize the firm's choice of a...