A Welfare Cost of the Lost Decade in Japan

16 Pages Posted: 1 Mar 2010

Abstract

This paper measures the welfare cost of the Japanese economy in a ‘lost decade’ from 1990 to 2002, by using panels of different consumer groups. The paper finds that the costs for consumers in the lower and middle income quintiles and in urban districts are much higher, while there exists a benefit for consumers in rural districts. We suggest that such cost disparities express the business slump related to districts and income quintile group with high costs. Also, there exist consumers feeling this stagnation to be low-cost and the seriousness of stagnation is not recognised unanimously.

Suggested Citation

Miyakoshi, Tatsuyoshi, A Welfare Cost of the Lost Decade in Japan. Australian Economic Papers, Vol. 49, Issue 1, pp. 28-43, March 2010, Available at SSRN: https://ssrn.com/abstract=1560119 or http://dx.doi.org/10.1111/j.1467-8454.2010.00385.x

Tatsuyoshi Miyakoshi (Contact Author)

Osaka University ( email )

1-1 Yamadaoka
Suita
Osaka, 565-0871
Japan

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