IDEAS home Printed from https://ideas.repec.org/p/dpr/wpaper/0799.html
   My bibliography  Save this paper

Revitalizing the Japanese Economy by Socializing Risk

Author

Listed:
  • Charles Yuji Horioka
  • Reiko Kanda

Abstract

The almost continuous stagnation of the Japanese economy for the past two decades has had an adverse impact on Japanese households from at least threeperspectives: A decline in the standard of living, an increase in risks and uncertainties relating to livelihood, employment, old age, etc., and an increase in income inequality. The majority of economists and policymakers focus their attention on the increase in income inequality. The research discussed here, however,focuses on the increase in risk and uncertainty among households and individuals. Based on this research, we propose a shift to a policy regime centering on thesocialization of risk, which will make possible a transition from a society in which individuals bear excessive risks to one in which risk is shared equitably by society as a whole.

Suggested Citation

  • Charles Yuji Horioka & Reiko Kanda, 2010. "Revitalizing the Japanese Economy by Socializing Risk," ISER Discussion Paper 0799, Institute of Social and Economic Research, Osaka University.
    • Handle: RePEc:dpr:wpaper:0799
    as

    Download full text from publisher

    File URL: https://www.iser.osaka-u.ac.jp/library/dp/2010/DP0799.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Naohito Abe, 2010. "Chapter 1. Income Risks Faced by Contemporary Japanese Households," Japanese Economy, Taylor & Francis Journals, vol. 37(3), pages 37-52.
    2. Giuseppe Bertola & Richard Disney & Charles Grant (ed.), 2006. "The Economics of Consumer Credit," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262026015, April.
    3. Charles Yuji Horioka, 2002. "Are the Japanese Selfish, Altruistic or Dynastic?," The Japanese Economic Review, Japanese Economic Association, vol. 53(1), pages 26-54, March.
    4. Esping-Andersen, Gosta, 1999. "Social Foundations of Postindustrial Economies," OUP Catalogue, Oxford University Press, number 9780198742005.
    5. Michael Förster & Marco Mira d'Ercole, 2005. "Income Distribution and Poverty in OECD Countries in the Second Half of the 1990s," OECD Social, Employment and Migration Working Papers 22, OECD Publishing.
    6. Coate, Stephen & Loury, Glenn C, 1993. "Will Affirmative-Action Policies Eliminate Negative Stereotypes?," American Economic Review, American Economic Association, vol. 83(5), pages 1220-1240, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Charles Yuji Horioka, 2021. "Is the selfish life-cycle model more applicable in Japan and, if so, why? A literature survey," Review of Economics of the Household, Springer, vol. 19(1), pages 157-187, March.
    2. Sarracino, Francesco & O'Connor, Kelsey J. & Ono, Hiroshi, 2019. "Making economic growth and well-being compatible: evidence from Japan," MPRA Paper 93010, University Library of Munich, Germany.
    3. Francesco Sarracino & Kelsey J. O’Connor, 2021. "Economic growth and well-being beyond the Easterlin paradox," Chapters, in: Luigino Bruni & Alessandra Smerilli & Dalila De Rosa (ed.), A Modern Guide to the Economics of Happiness, chapter 9, pages 162-188, Edward Elgar Publishing.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charles Yuji Horioka, 2014. "Why Do People Leave Bequests? For Love or Self-Interest? Evidence from a New International Survey of Bequest Plans," UP School of Economics Discussion Papers 201406, University of the Philippines School of Economics.
    2. Karl Aiginger & Alois Guger, 2005. "The European Socio-economic Model. Differences to the USA and Changes Over Time," WIFO Studies, WIFO, number 25777, April.
    3. Charles Horioka, 2014. "Are Americans and Indians more altruistic than the Japanese and Chinese? Evidence from a new international survey of bequest plans," Review of Economics of the Household, Springer, vol. 12(3), pages 411-437, September.
    4. Ramon L. Clarete & Ernesto M. Pernia & Ammielou Gaduena & Adrian Mendoza, 2014. "The Role of Science, Technology and Research in Economic Development," UP School of Economics Discussion Papers 201407, University of the Philippines School of Economics.
    5. Ngai, L. Rachel & Pissarides, Christopher A., 2009. "Welfare policy and the distribution of hours of work," LSE Research Online Documents on Economics 28698, London School of Economics and Political Science, LSE Library.
    6. Sam Hickey & Tom Lavers & Miguel Niño-Zarazúa & Jeremy Seekings, 2018. "The negotiated politics of social protection in sub-Saharan Africa," WIDER Working Paper Series wp-2018-34, World Institute for Development Economic Research (UNU-WIDER).
    7. Mitchell, Olivia S. & Piggott, John, 2004. "Unlocking housing equity in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 18(4), pages 466-505, December.
    8. Frances McGinnity & Emma Calvert, 2008. "Yuppie Kvetch? Work-life Conflict and Social Class in Western Europe," Papers WP239, Economic and Social Research Institute (ESRI).
    9. Kevin Lang & Ariella Kahn-Lang Spitzer, 2020. "Race Discrimination: An Economic Perspective," Journal of Economic Perspectives, American Economic Association, vol. 34(2), pages 68-89, Spring.
    10. Maria Iacovou, 2013. "The relationship between incomes and living arrangements: variation between countries, over the life course, and over time," ImPRovE Working Papers 13/15, Herman Deleeck Centre for Social Policy, University of Antwerp.
    11. repec:spo:wpmain:info:hdl:2441/8807 is not listed on IDEAS
    12. Klumpp, Tilman & Su, Xuejuan, 2013. "Second-order statistical discrimination," Journal of Public Economics, Elsevier, vol. 97(C), pages 108-116.
    13. Pierre Fleckinger & Matthieu Glachant & Gabrielle Moineville, 2017. "Incentives for Quality in Friendly and Hostile Informational Environments," American Economic Journal: Microeconomics, American Economic Association, vol. 9(1), pages 242-274, February.
    14. Armando Aliu & Bekir Parlak & Dorian Aliu, 2015. "Hybrid structures: innovative governance, judicial and sociological approaches," Quality & Quantity: International Journal of Methodology, Springer, vol. 49(4), pages 1747-1760, July.
    15. Erik Stam & Roy Thurik & Peter van der Zwan, 2010. "Entrepreneurial exit in real and imagined markets," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 19(4), pages 1109-1139, August.
    16. Donal O'Neill & Olive Sweetman & Dirk van de Gaer, 2000. "Estimating Counterfactual Densities: An application to Black-White Wage Differentials in the U.S," Economics Department Working Paper Series n1040600, Department of Economics, National University of Ireland - Maynooth.
    17. Mengyuan Zhou, 2019. "The Effect of the Source of Inheritance on Bequest Attitudes: Evidence from Japan," Keio-IES Discussion Paper Series 2019-018, Institute for Economics Studies, Keio University.
    18. Terry Sicular, 1998. "Capital Flight and Foreign Investment: Two Tales From China and Russia," The World Economy, Wiley Blackwell, vol. 21(5), pages 589-602, July.
    19. Card, David & Rothstein, Jesse, 2007. "Racial segregation and the black-white test score gap," Journal of Public Economics, Elsevier, vol. 91(11-12), pages 2158-2184, December.
    20. Seán Ó Riain & Amy Erbe Healy, 2024. "Workplace regimes in Western Europe, 1995–2015: Implications for intensification, intrusion, income and insecurity," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 45(2), pages 415-446, May.
    21. Ilaria Rocco & Davide Girardi, 2024. "Giovani, background migratorio e ingresso nel mercato del lavoro regionale," ECONOMIA E SOCIET? REGIONALE, FrancoAngeli Editore, vol. 2024(1), pages 87-101.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:dpr:wpaper:0799. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Librarian (email available below). General contact details of provider: https://edirc.repec.org/data/isosujp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.