Consumption smoothing in the working-class households of interwar Japan

Kota Ogasawara

Papers from arXiv.org

Abstract: I analyze factory worker households in the early 1920s in Osaka to examine idiosyncratic income shocks and consumption. Using the household-level monthly panel dataset, I find that while households could not fully cope with idiosyncratic income shocks at that time, they mitigated fluctuations in indispensable consumption during economic hardship. In terms of risk-coping mechanisms, I find suggestive evidence that savings institutions helped mitigate vulnerabilities and that both using borrowing institutions and adjusting labor supply served as risk-coping strategies among households with less savings.

Date: 2018-07, Revised 2024-02
New Economics Papers: this item is included in nep-his and nep-mfd
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Published in The Journal of Economic History 2024, Volume 84, Issue 1, 111-148

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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1807.05737

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