UID:
edoccha_9958108233502883
Format:
1 online resource (36 p.)
ISBN:
1-4983-6559-0
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1-4983-4355-4
Series Statement:
IMF Working Papers
Content:
We assess the ongoing reform efforts in Japan in terms of inclusive growth. We use prefectural level panel data to regress a measure of inclusive growth, which incorporates both average income growth and income inequality, on macroeconomic and policy variables. Our analysis suggests that achieving the Bank of Japan’s 2 percent inflation target has a positive effect on average income growth, but an adverse effect on income equality. The package of structural reforms planned under Abenomics is found to be effective in increasing both average income growth and income equality. The main policy implication of our analysis is that full implementation of structural reforms– especially labor market reforms–is necessary to both foster growth and increase equality.
Note:
Description based upon print version of record.
,
Cover; How Inclusive Is Abenomics?; I. INTRODUCTION; II. INCLUSIVE GROWTH: MULTIPLE DEFINITIONS; III. INCLUSIVENESS IN JAPAN: TRENDS AND STYLIZED FACTS; A. Income Inequality; B. Poverty; C. Other Dimensions of Inequality; IV. DATA AND EMPIRICAL STRATEGY; V. RESULTS; VI. POLICY IMPLICATIONS; VII. CONCLUSIONS; Appendix A. Data Sources and Definitions; Appendix B. Definition of Inclusive Growth; Appendix C. Quadratic form of inflation, simulation of the estimated effects; Appendix D. Causality Direction between Inflation and Growth; Appendix E. Contributions of regressors to variation in equity
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REFERENCES
Additional Edition:
ISBN 1-4983-2731-1
Language:
English
