Replication data for: The Consumption Response to Seasonal Income: Evidence from Japanese Public Pension Benefits

Name: Replication data for: The Consumption Response to Seasonal Income: Evidence from Japanese Public Pension Benefits
Published: 2011-10-01
License: This work is licensed under an Other license created by the data depositor. Please refer to the LICENSE file, which should be located alongside the project data and documentation.
Keywords: Japanese Household Survey Data

Principal Investigator(s): View help for Principal Investigator(s) Melvin Stephens; Takashi Unayama

Version: View help for Version V1

Name	File Type	Size	Last Modified
Japan_Public_Pension			10/20/2021 03:45:PM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 11:52:AM

Project Citation:

Stephens, Melvin, and Unayama, Takashi. Replication data for: The Consumption Response to Seasonal Income: Evidence from Japanese Public Pension Benefits. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113805V1

Project Description

Summary: Japanese public pension benefits, which were distributed quarterly through February 1990, and every other month since then, induce substantial but predictable income fluctuations. The relative magnitude of the payments combined with the delay between payments yields a stronger test of the Life-Cycle/Permanent Income Hypothesis than in prior studies. Applying two identification strategies to monthly household panel data, we find that consumption significantly responds to quarterly benefit receipt. Additional analysis suggests that our findings cannot be explained by either liquidity constraints or precautionary savings motives. (JEL D12, D91, E21, H55)

Scope of Project

Subject Terms: Japanese Household Survey Data

JEL Classification:
      D12 Consumer Economics: Empirical Analysis
      D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
      E21 Macroeconomics: Consumption; Saving; Wealth
      H55 Social Security and Public Pensions

Geographic Coverage: Japan

Time Period(s): 3/1986 – 2/1994

Universe: All Two-or-more person households who live in Japan.

Data Type(s): program source code

Collection Notes: The programs listed below require microdata from Japanese Family Income and Expenditure Survey (JFIES). The survey datasets are the property of Japan Statistical Bureau and are not publicly available. They were made available to the authors with the permission based on Article 33 of Statistical Law of Japan. It would be basically available for academic researchers, while application and other documentation should be written in Japanese.

Methodology

Data Source: Family Income and Household Survey

Unit(s) of Observation: Household,

Related Publications

Download this project

Published Versions

V1 [2019-10-12]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.