Japanese Economy in Transition
2017/07/11
Ryoichi Imai
International Student Center, Kyushu University
imai.ryoichi.303（〜）m.kyushu-u.ac.jp
Outline
We discuss the latest issues in Japanese economy. The course consists of two parts. In the first half, we review the mechanism and the consequence of the global financial crisis since 2008. In the second half we discuss the current debates such as energy policy, youth unemployment, and fiscal crisis in the politico-economic context.
Requirements and Grading Assessment (in parenthesis)
1. One presentation of the selected issues. You have to make a set of slides using Microsoft PowerPoint or equivalent software. (40%)
2. One final take-home examination –subject to change. (40%)
3. Regular attendance and participation in class discussion. (20%)
You can get two credits by completing all the requirements described above. Some students need three credits in order to transfer credits in accordance with their home university's academic rule. In that case, you have to do two presentations, which will be specified in the later stage of the course.
Schedule
The class will start with a series of my lecture. Later students will present their assignments in the class. A detailed weekly plan will be announced soon.
Part I: Economic Geography of Japan
Sorry, most readings are in Japanese m(_ _)m
1(4/5). Kyushu Economy in the World
Introduction to the Kyushu Economy for
International Investors
Summary of Kyushu Economy 2015
2(4/12). Revitalizing Regional Economy
Japan Revitalization Strategy
National Strategic Special Zones (in Japanese)
Takatoshi Tabuchi (2013) Historical Trends of agglomeration to the
capital region (in English)
Definition of Urban Area by the Ministry of
Internal Affairs (in Japanese)
Demographia
World Urban Area 2015
Population
Concentration on Urban Area (in Japanese)
Working population across industries by
prefectures (in Japanese)
GDP
by prefectures
Productivity Convergence across Prefectures in
Postwar Japan
Scale Economy in Agriculture (in Japanese)
3 (4/19). Urban-Regional Redistribution and the Heisei
Municipal Mergers
The benefit/cost ratio by prefectures
Transfer through the special account for road
maintenance
Regional gap in the consumption tax revenue
National Tax Agency State-Regional Division of Income Taxes
(J)
- State-Regional Division of Consumption Taxes
(J)
Takero Doi (2010) Poverty traps with Local Allocation Tax grants
in Japan (in English, but technical)
Takero Doi (2006) Interregional Income Redistribution
Reconsidered (J)
Kazuhiko Tomiyama (2014) Sectoral Change in Industries and Higher
Education Reform (J)
Koyotaka KOICHI (????) Development of Municipal Mergers in Japan
(in English)
Municipal Mergers and Dissolutions in Japan
(in English)
Anthony Raush (2010) Post Heisei Merger in Japan (E)
Before and After the Heisei Municipal
Mergers (J)
Yubari, Japan: a city learns how to die (E)
Dani Rodrik (2010) Greek Lessons for the World Economy
(E)
Population, area, density by prefectures
(J)
Aging
ranking by municipals (J)
Regional
average income ranking by municipals (J)
Regional average income tax revenue ranking by
municipals (J)
Municipals
in Tokyo (J)
Regional average income tax revenue ranking by
municipals in Tokyo (J)
Osaka
referendum causes turbulence for LDP, Komeito
Redistribution within Osaka City
(J)
4 (4/26) Regional Gaps in Economomy
Regional Gaps in EU, US, and Japan
Nominal GDP per capita in Europe
Real GDP per capita in the world
Prefectural
income per capita in Japan
List of US states by GDP per capita
Student commutes to University of London from
Poland to save money on accommodation rent
CPI by prefecture in Japan
International Comparison of CPI
5 (5/10). Tourism
Annual
Report on Tourism 2014 (J)
Policies on Tourism 2010 (J)
Concentration
of Tour Demands (J)
Economic Impacts of Tourism (J)
Dispersing
the National Holidays (J)
Yoshiro Hoshino (2015) Holidays must be dispersed (J)
Hoshino
Resorts TOMAMU (J)
NHK(2014) Is it possible to disperse holidays?
(J)
Agriturism in Ukiha, Fukuoka (J)
Ukiha-city
(J)
6 (5/17). Short
Lecture on Japan’s Automobile Industry (4/20)
Japan’s
UNESCO World Heritage Page
Miike
Coal Mines (J)
Gunkanjima
Concierge (J)
Hanako to Anne (Episode 95)
Toyota has an amazing History Page!
Toyota Hydrogen Fuel Cell Vehicles
WSJ on hydrogen stations
WSJ on the hydrogen-powered car: Mirai.
The Telegraph: Toyota’s driverless car
7 (5/24). Urban and Nationwide Railway Transportation
On
the Effects of the Shinkansen (J)
Economic Consequences of the Shinkansen
(J)
passenger
transportation share by vehicles (J)
distribution
traffic share by vehicles (J)
Accounting Report on JR Shikoku 2015
(J)
Accounting Report on JR Hokkaido 2015
(J)
Accounting
Report on JR Kyushu 2014 (J)
JR
Kyushu should not be listed on TSE before it pays back its debts (J)
Government decides to list JR Kyushu on TSE in
2016 (J)
Balance of Payment of JR Groups: East
West
Japan Railway Construction, Transport and
Technology Agency (J)
Kansai Prefectural Governors approve the
Maibara Route (J)
Seven Stars in Kyushu
Private
Resort – Tenku no Mori
Tour
Trains of JR Kyushu (J)
8 (5/31) Young People Move across Prefectures
University Capacity in Japan
Regional Gaps in Higher Education
Private
Universities in Japan
Nagano University
Higher Education Opportunities in Nagano
Prefecture
Students Life Survey by JASSO
Students Accommodation by type of Universities
9 (6/7). Abenomics and Japan’s growth strategy
International
companies do not always create employment or bring tax revenues to the US.
The
Baumol’s Cost Disease
Where is the productivity growth?
Labor share is declining in G7 economies
Changes in Industries and Occupations – Ministry of Health, Labor, and Welfare
Nordhaus (2016) Are we approaching an economic Singularity?
解雇規制を考える – A Short Lecture for High School Students
10 (6/14). Abenomics and Its
Consequences
The 10-year maturity government bonds of Japan
The Kuroda’s announcement on April 4th amazed
the western media
Iida’s comments on
the consumption tax rate rise
Macroeconomics
supporting Abenomics
Jordi Gali
(2014) Thinking
the unthinkable: The effects of a money-financed fiscal stimulus
(2015) Start the presses: reconsidering a
money-financed fiscal stimulus
(2014) The
Effects of a Money-Financed Fiscal Stimulus
4 Signs of Abenomics' Dismal Failure
Nikkei Average
(Tokyo Stock Exchange)
JGB
10 yrs rate
JGB
10 yrs rate
JGB
average
The leading advocate for NIRP:
Miles Kimball (2016) Negative
Interest Rate Policy as Conventional Monetary Policy
Japan Times: The
NIRP is unpopular
Unemployment Rate
Labor Market
Tightness
Record
97% of university graduates land jobs
Monthly
Employment Survey April 2016
Monthly Employment Survey
GDP per person employed (constant 2011 PPP $)
GDP Accounting of Japan (内閣府) (2014-EXCEL)
Consumers’ Price Index (CPI) (総務省) April 2016
Fiscal
Balance –International Comparison
Simulation - Tokyo Foundation Model
Consumption
Level Index
BOJ Consumption Index (J)
Why do real wages stagnate even though the labor
share of GDP remains constant?
Kawaguchi (2016) Real Wages and Terms of Trade (J)
Philips
Curve in Japan
Real GDP per person employed in Japan
Fiscal
Consolidation
Tax revenues are not enough to cover the
expenses
Government budget for 2016 Slide
International Comparison of Government Debts
Deficits in Central and Regional Governments
How consumption tax revenues are shared by central
and regional governments
11 (6/21). Review
Part II: Students' Presentations
12 (6/28) A. Information Technology and the Basic Income
Support
1.
Review天の無数の星々は仕事などしない――人工知能とベーシックインカムがかたちづくるユートピア (Ryo)
2.
Review 「物価は足し算だ」 吉川洋・東京大学教授」（日本経済新聞）(Kosuke)
3.
Review The race
between machines and humans: Implications for growth, factor shares and jobs (Aimee)
4.
Review Straw
men in the debate on basic income versus targeting (Tianyu)
13 (7/5) France (Valintin, Meline, Nicholas, Sarah)
14 (7/21) Europe (Aimee, Prisca, Christine)
Taiwan (Wai Hsiang, Kaining)
15 (7/19) China (Tianyu, Lin Ying, Po Yang)
Hong Kong (Pang)
B. Review the income redistribution system of your own
country.
1.
Review the regional
governance.
l How governors and local diet members are elected?
l How does the ruling system solve the conflicts between the governor
and the diet?
2.
Review the taxation and
subsidy system.
l State tax or regional tax?
l How tax revenues are redistributed from urban to rural regions?
l Are there political tensions between urban and rural regions?
l How does the central government help local governments if they
suffer deficits?
C. Review your country’s
policies on tourism and local transportation
1.
Review the
transportation policies
l Roles for motor vehicle roads, railways, and flights.
l Problems of urban transportation (costs and congestion)
l How to finance the construction and maintenance of local public
infrastructure
2.
Review your country’s policy on tourism
l How important is tourism industries in your country’s economy?
l Describe the policies to promote tourism.
l Targets: national or international?
D. Review immigration within and across national borders
of your countries.
1.
Review immigration
within national borders.
l Young people’s immigration after completing
formal education (high schools, universities)
l Roles and functions of large and small cities
l How to finance elderly care with aging population
2.
Review your country’s policy on immigrants
l Composition of immigrants by nationals and regions
l Conflicts between native residents and immigrants
l Government policies on immigrants from foreign countries
Final
Take-Home Examination (New 2017)
Miscellaneous Topics
A
short lecture on Kabuki 2015
Shochiku
Kabuki Website
Kabuki
Actors (Current)
Hakata-za
Theater
Kabuki on NHK
How to watch NHK World TV
Ministry of Economy, Trade, and Industry
(2014) Contents Industry: Today and the Future
(J)
Ministry of Economy, Trade, and Industry (2010) Toward Economic Prosperity based on Cultural
Industry (J)
The
Economics of Orchestras
Association of
Japanese Symphony Orchestras (J)
Annual Report of
the Members 2013 (J)
Annual Report of the Members 2004
(J)
Financial Reports of the New Japan
Philharmonic Orchestra (J)
League of American Orchestras
US Orchestra Facts
March 2015
Energy Crisis and Local Economies
Healthcare Cost
Control in Japan
International
Comparison of Medicare System (J)
In Japan, All-Payer Rate Setting Under
Tight Government Control Has Proved To Be An Effective Approach To Containing Costs
Kuroda (2013) Working Hours in Japan (J)
Prescott (2002) Prosperity and Depression
Daily
Routines of Famous Creative People
The Economics of
Two-Sided Markets
Rochet and Tirole (2003) Platform
Competition in Two-Sided Markets
Evans, Hagiu, and Schmalensee (2006) Invisible Engines
Hagiu (2004) Two-Sided Platforms: Pricing and Social
Efficiency
Anderson and Coate (2005) Market Provision of Broadcasting: A Welfare
Analysis
The Increasing Share of E-commerce
(J)
Abe’s economic
advisor reveals his cautious view on the China leading AIIB
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