システム情報工学研究科

平成16年度　ファカルティ・セミナー

（Faculty Seminar）

日　時：　2005年2月10日(木)　16：30−18：00

場　所：　３F1136

講演者：　宇南山　卓　氏（京都大学経済研究所）

司会者：　大久保　正勝

演　題：　Unemployment Risk and Consumption: Can the Buffer Stock Saving

Behavior Explain the Japanese Experience?

（要旨）

This paper shows that the drop of the aggregate propensity to consume (APC) in Japan during the lost decade is attributable to increase of income risks, mainly due to the rise in the unemployment rate. In order to assess impacts of income risks numerically, we use a buffer stock saving model that deals with transition dynamics of wealth distribution. Our simulation results well capture the evolution of the APC during the 1990s, which suggest not only the drop of the APC can be explained with the buffer stock saving behavior, but also it would be transit.