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This book examines the causes of the Japanese deflationary economy, characterized as a structural deflation, and discusses how to alleviate the prolonged slowdown in order to restore Japan to a trajectory of high economic growth, with a special focus on the function of income distribution.
The book describes the structure of the Keynes-Leontief Model (KLM) of Japan and discusses how the Japanese economy can overcome the long-term economic deflation that has taken place since the mid-1990s. The large-scale econometric model and its analysis have been important for planning several policy measures and examining the economic structure of a country. However, it seems that the development and maintenance of the KLM would be very costly. The book discusses how the KLM is developed and employed for the policy analyses.
This research uses Japanese prefectural panel data to empirically analyze how income distribution affects economic growth. The Gini indices, income share of the third quintile and the ratio of the income share of the top decile and the 5th decile show that income inequality had negative effects on growth in the system GMM estimations.
The Japanese economy has experienced a structural deflationary gap since the mid-1970s. Although the gap was decreasing in the bubble period, the deflationary economy has become more serious since the bursting of the bubble. Accordingly, this book attempts to examine the causes of the Japanese deflationary economy, characterized as a structural deflation and discusses how to alleviate the prolonged slowdown in order to restore Japan to a trajectory of high economic growth, with a special focus on the function of income distribution. In addition, not only income distribution flows but also accumulation of assets and debts in the household sector are taken into account for improving the prolonged economic stagnation of Japan by employing an econometric analysis with modeling and forecasting techniques. Furthermore, this book makes a long-term forecast of the Japanese economy, up to the fiscal year 2030, with policy scenario simulations in order to capture the long-term growth path of the Japanese economy and to analyze the effects of alternative policies on the economy.
This unique book contains novel and in-depth research regarding economic development in Japan. The authors examine economic development in Japan from both theoretical and empirical perspectives. Using general equilibrium growth accounting and the overlapping generations model, they analyze the relationships between population, agriculture and the economy. The research results are unprecedented and show the effects of increased adult longevity on national savings and the effects of demographic change on the industrial structure; the push-pull effects of technical change in agricultural and non-agricultural sectors and the positive effects of population on technical change and economic development.
Economic analysis of the impact of rapid economic growth on income distribution and poverty in Japan - reviews post-war agricultural income, non-agricultural income and income disparity among merchants, skilled worker, households and industrial workers; studies asset holdings, land tenure and difference in wealth; compares housing conditions in Korea R, Taiwan, China, Hong Kong and Japan; analyses consumption patterns, educational expenditure, health service, social security and poverty level by stages of economic development. Bibliography, statistical tables.
Working paper on income distribution patterns in Japan between 1956 and 1971, illustrating the impact of economic growth on size distribution - analyses inequalities within and among industrial sectors, among household units, within the occupational structure, etc., and constitutes part of a WEP research project on employment and income distribution. References and statistical tables.
Discusses the evolution over the past hundred years and the causes of the increasing income inequalities. Analyses the effect of intergenerational transfer on wealth distribution. Comprises comparisons with other OECD countries and offers policy recommendations to counter the trend.
This book presents a model of economic development in what are generally termed as mono-cultural economies, applied largely to Japan, but also including empirical evidence from other countries. A major feature of the book is the theory which explains the mechanism of industrial development in an originally subsistence economy with a very limited capitalist sector. The theory explains a "take-off" in industrialization as well as the possibility of its failure within a consistent model, which takes into account the important role of food and labor supply, as well as the performance of the subsistence sector in this process. This book will interest anyone concerned or involved with the Japanese economic system.