Population aging, government policy and the postwar Japanese economy

Keisuke Otsu, Katsuyuki Shibayama

研究成果: Article査読

2 被引用数 (Scopus)

抄録

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%, ii) workweek shortening policy led to a 20% reduction in output from its potential level by reducing hours worked over the 1988-1994 period, iii) the rise in labor 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.

本文言語English
論文番号101191
ジャーナルJournal of The Japanese and International Economies
64
DOI
出版ステータスPublished - 2022 6月
外部発表はい

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学
  • 政治学と国際関係論

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