{"title":"Looking from Gross Domestic Income: Alternative view of Japan’s economy","authors":"Toshitaka Sekine","doi":"10.1016/j.japwor.2022.101159","DOIUrl":null,"url":null,"abstract":"<div><p>This study estimates the Gross Domestic Income (GDI) from taxation data by updating Fujiwara and Ogawa (2016, 2018). The National Account statistics in Japan derives GDI from GDP so that the national accounting identity always holds. However, from the experiences of the U.S. and Australia, where GDI is estimated independently from GDP, the identity does not hold in practice due to differences in data sources, inter alia. We find that the estimate of GDI exceeds GDP by about 20 trillion yen in 2019, which gives quite different readings of potential growth, labor share, household saving ratio, and saving-investment balance of both households and non-financial corporations in recent years. The present study likewise demonstrates how to combine the information of GDE and GDI to obtain true GDP.</p></div>","PeriodicalId":46744,"journal":{"name":"Japan and the World Economy","volume":"64 ","pages":"Article 101159"},"PeriodicalIF":1.3000,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0922142522000445/pdfft?md5=e659b88125868645b9a3acdc0bf64ab9&pid=1-s2.0-S0922142522000445-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Japan and the World Economy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0922142522000445","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This study estimates the Gross Domestic Income (GDI) from taxation data by updating Fujiwara and Ogawa (2016, 2018). The National Account statistics in Japan derives GDI from GDP so that the national accounting identity always holds. However, from the experiences of the U.S. and Australia, where GDI is estimated independently from GDP, the identity does not hold in practice due to differences in data sources, inter alia. We find that the estimate of GDI exceeds GDP by about 20 trillion yen in 2019, which gives quite different readings of potential growth, labor share, household saving ratio, and saving-investment balance of both households and non-financial corporations in recent years. The present study likewise demonstrates how to combine the information of GDE and GDI to obtain true GDP.
期刊介绍：
The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
