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A Welfare Cost of the Lost Decade in Japan

Author

Listed:
  • Tatsuyoshi Miyakoshi

    (Osaka School of International Public Policy (OSIPP), Osaka University)

  • Masakatsu Okubo

    (Graduate School of Systems and Information Engineering,University of Tsukuba)

Abstract

This paper measures the welfare cost of the Japanese economy in a elost decade f from 1990 to 2002, by using panels of different consumer groups. This paper finds that the costs for consumers in the lower and middle income quintiles and in urban districts are much higher, while it is a benefit for consumer in rural districts. This paper suggests that such cost disparities express the defects related to districts and income quintile group with high costs. Also, there exist consumers feeling this stagnation to be costless and the seriousness of stagnation are not recognized unanimously.

Suggested Citation

  • Tatsuyoshi Miyakoshi & Masakatsu Okubo, 2007. "A Welfare Cost of the Lost Decade in Japan," Discussion Papers in Economics and Business 07-27, Osaka University, Graduate School of Economics.
    • Handle: RePEc:osk:wpaper:0727
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    File URL: http://www2.econ.osaka-u.ac.jp/library/global/dp/0727.pdf
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    More about this item

    Keywords

    welfare cost; a lost decade of Japanese economy; Lucas model;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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