Population

Earnings, Income, and Wealth Inequality in Japan: A Long‑term Perspective, 1984–2019

This study examines trends in earnings, income and wealth inequality among households in Japan from 1984 to 2019. Our findings reveal that inequality in all three domains has increased over the last decades, but due to different underlying factors. The rise in earnings and income inequality is primarily driven by demographic aging, with an increasing proportion of elderly households who typically exhibit higher inequality levels. The growth in wealth inequality is evident not only in the overall population but is particularly pronounced among the young. This trend is largely attributed to a significant rise in the number of households that possess extremely low wealth. Key factors contributing to inequality trends in Japan include aging demographics, shifts in household structure, and major macroeconomic developments such as the financial bubble period and the prolonged economic slow-down that followed.

Mar 12, 2025

Exploring the Relationship Between Population Aging and Labor Share

Presented at the FFJ-Banque de France workshop.

Dec 2, 2024

Demographic Aging, Fiscal Reforms and Macroeconomy in Japan

Work in progress.

Sep 16, 2023

Population Aging and Redistribution in Japan: Comparisons with OLG, SNA and NTA

Work in progress.

Jun 18, 2021

Dimensions of Inequality in Japan: Distributions of Earnings, Income and Wealth between 1984 and 2014

Discussion paper available.

May 1, 2019

Effects of Demographic Change on the Expenditure Composition in Japanese Economy

Work in progress.

Nov 30, 2014