A Welfare Cost of the Lost Decade in Japan
AbstractThis paper measures the welfare cost of the Japanese economy in a elost decadef 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.
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Bibliographic InfoPaper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 07-27.
Length: 29 pages
Date of creation: Jun 2007
Date of revision:
welfare cost; a lost decade of Japanese economy; Lucas model;
Find related papers by 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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