Estimation of Real Assets Holdings by Japanese Households Based on the Microdata from the Family Income and Expenditure Survey:Estimation Methods and Illustrative Tables and Figures(in Japanese)

Junya Hamaaki, Masahiro Hori, Koichiro Iwamoto, Saeko Maeda, Keiko Murata and Takeshi Niizeki

Economic Analysis, 2015, vol. 189, 65-96

Abstract: Japan is facing sweeping demographic changes, population aging, and lower fertility, all of which are posing an unprecedented challenge to the Japanese economy. Among others, growing economic inequality and its impact on consumer behavior are becoming topics of increasing importance for economists and policymakers alike. Against this background, a team studying microdata analysis on household economics, Economic and Social Research Institute (ESRI), has been developing a micro-level dataset on asset holdings by Japanese households. While there is an official estimate on household asset holdings based on the National Survey of Family Income and Expenditure (NSFIE), the NSFIE-based estimate is not suited for the detailed analysis of household economic responses to the changing assets distribution, since it is available only every five years. By basing on the Family Income and Expenditure Survey (FIES), we could construct a dataset covering all years from 1983 to 2012 continuously. This paper first outlines our methodology to estimate real (residential) assets holdings by individual households, then presents a variety of tables and figures to illustrate some interesting facts that are revealed by our FIES-based data set. JEL Classification Number: D31, E21 Key Words: Family Income and Expenditure Survey, Micro data, Asset distribution, Bubble economy, Japan

Date: 2015
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