Premium
A WELFARE COST OF THE LOST DECADE IN JAPAN
Author(s) -
MIYAKOSHI TATSUYOSHI
Publication year - 2010
Publication title -
australian economic papers
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.351
H-Index - 15
eISSN - 1467-8454
pISSN - 0004-900X
DOI - 10.1111/j.1467-8454.2010.00385.x
Subject(s) - seriousness , welfare , economics , feeling , cost of living , business , rural area , economic growth , market economy , political science , psychology , social psychology , law
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.