That kind of financial prudence has helped Japanese households amass a staggering $17 trillion in assets over the years, with more than half of that parked in savings.
Japanese households receiving cash stimulus are more likely to save the money or repay debt, representing a headache for policymakers, who struggle to kick-start consumption
When Japan handed Tokyo bus driver Keiki Nambu and his wife, Takako, US$870 for each of their nine children, they spent it exactly as the government had feared: paying down a mortgage instead of going shopping.
That kind of financial prudence has helped Japanese households amass a staggering US$17 trillion in assets over the years, with more than half of that parked in savings.
However, it also represents a headache for policymakers, who struggle to kick-start consumption and boost a moribund economy.
Japanese Prime Minister Fumio Kishida’s government has paid nearly US$17 billion in cash stimulus to families.
However, unlike US stimulus