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Population Aging and Consumption Inequality in Japan

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  • Ohtake, Fumio
  • Saito, Makoto

Abstract

This paper analyzes how consumption inequality within a fixed cohort grows with age using Japanese household microdata. Following the method developed by A. Deaton and C. Paxson (1994), the authors obtain the following results: first, consumption inequality starts to increase at the age of forty; second, younger generations face a more unequal distribution from the beginning of their life-cycle; and third, half of the rapid increase in the economywide consumption inequality during the 1980s was caused by population aging, while one-third was due to the increasing cohort effect. The paper compares the above results with those of Deaton and Paxson. Copyright 1998 by The International Association for Research in Income and Wealth.

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Bibliographic Info

Article provided by International Association for Research in Income and Wealth in its journal Review of Income & Wealth.

Volume (Year): 44 (1998)
Issue (Month): 3 (September)
Pages: 361-81

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Handle: RePEc:bla:revinw:v:44:y:1998:i:3:p:361-81

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Cited by:
  1. Jeremy Lise & Nao Sudo & Michio Suzuki & Ken Yamada & Tomoaki Yamada, . "Wage, Income and Consumption Inequality in Japan, 1981-2008: from Boom to Lost Decades," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics.
  2. Nao Sudo & Michio Suzuki & Tomoaki Yamadai, 2012. "Inequalities in Japanese Economy during the Lost Decades," CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo CARF-F-284, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
  3. Yamauchi K., Futoshi, 2001. "Does inequality of labor earnings emerge in young days or later? : Labor earnings dynamics and learning about individual ability in heterogeneous society," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 44(4), pages 413-434, April.
  4. Abe, Naohito & Yamada, Tomoaki, 2009. "Nonlinear income variance profiles and consumption inequality over the life cycle," Journal of the Japanese and International Economies, Elsevier, vol. 23(3), pages 344-366, September.
  5. Motonishi, Taizo, 2006. "Why has income inequality in Thailand increased?: An analysis using surveys from 1975 to 1998," Japan and the World Economy, Elsevier, Elsevier, vol. 18(4), pages 464-487, December.
  6. Yamada, Tomoaki, 2012. "Income risk, macroeconomic and demographic change, and economic inequality in Japan," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 36(1), pages 63-84.
  7. Yamada, Tomoaki, 2011. "A politically feasible social security reform with a two-tier structure," Journal of the Japanese and International Economies, Elsevier, vol. 25(3), pages 199-224, September.
  8. Takeo Hori, 2009. "Inequality and growth: the roles of life expectancy and relative consumption," Journal of Economics, Springer, Springer, vol. 96(1), pages 19-40, January.
  9. Saito, Makoto, 1999. "Dynamic Allocation and Pricing in Incomplete Markets: A Survey," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, Institute for Monetary and Economic Studies, Bank of Japan, vol. 17(1), pages 45-75, May.
  10. Tomoaki Yamada, 2009. "Persistence of income shocks and consumption inequality: A case in Japan," Economics Bulletin, AccessEcon, vol. 29(4), pages 2822-2831.
  11. Yamada, Tomoaki, 2013. "Cross-sectional Facts in Japan using Keio Household Panel Survey," MPRA Paper 49813, University Library of Munich, Germany.
  12. Futoshi Yamauchi-K., 2000. "Labor Earnings Inequality and Learning About Individual Ability: Theory and Evidence from Japan and the United States," Econometric Society World Congress 2000 Contributed Papers, Econometric Society 0782, Econometric Society.
  13. Ryo Arawatari & Tetsuo Ono, 2008. "Aging, Inequality and Social Security," Discussion Papers in Economics and Business, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) 08-19, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).

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