Arbeitspapier
Population aging, government policy and the postwar Japanese economy
This paper analyzes the Postwar Japanese economy with a parsimonious neoclassical growth model that incorporates the demographic transition in Japan. We find that i) the increase in the aged-population share can account for most of the decline in employment and reduced output by 8% from its potential level, ii) workweek shortening policy led to a 20% reduction in output from its potential level by reducing hours worked over the 1988-1992 period, iii) labor income tax led to an 11% reduction in output from its potential level by discouraging hours worked, iv) the shift in the composition of government spending may have caused a slowdown in productivity growth and hence a reduction in the potential output level itself.
- Language
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Englisch
- Bibliographic citation
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Series: School of Economics Discussion Papers ; No. 1809
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Otsu, Keisuke
Shibayama, Katsuyuki
- Event
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Veröffentlichung
- (who)
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University of Kent, School of Economics
- (where)
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Canterbury
- (when)
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2018
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Otsu, Keisuke
- Shibayama, Katsuyuki
- University of Kent, School of Economics
Time of origin
- 2018
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