Rebalancing in Japan: The Role of Private Consumption
IMF Working Papers, December 1, 2010
Source details
- Canonical URL
- Rebalancing in Japan: The Role of Private Consumption
Other formats
Bibliographic details
- Authors: Kiichi Tokuoka
- Published: December 1, 2010
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781455211746.001
Summary
- Boosting growth through rebalancing is critical for addressing pressures from Japan’s aging population.
- The paper focuses on private consumption as an important untapped source of growth.
- The key to reviving consumption is boosting household disposable income through higher wages, especially in services, and higher property income.
- The paper suggests that the impact of higher property income on consumption could be potentially large.
Major findings
- Private consumption is identified as an untapped source of growth for Japan.
- Reviving consumption depends on raising household disposable income via:
- Higher wages, with emphasis on services.
- Higher property income (dividend income/property income).
- Higher property income may have a potentially large impact on consumption.
Policy recommendations / Implications
- Policies that increase wages, particularly in the services sector, to boost household disposable income.
- Policies that enhance property income for households, given its potentially large effect on consumption.
- Rebalancing growth toward consumption is important to mitigate pressures from an aging population.
Publication and metadata
- Author: Kiichi Tokuoka
- Date: December 1, 2010
- Pages: 21
- Volume: 2010
- Issue: 293
- Series: Working Paper No. 2010/293
- DOI: https://doi.org/10.5089/9781455211746.001
- Stock No: WPIEA2010293
- ISBN: 9781455211746
- ISSN: 1018-5941
- Preview citation format: Kiichi Tokuoka. "Rebalancing in Japan: The Role of Private Consumption", IMF Working Papers 2010, 293 (2010), accessed 9/18/2026, https://doi.org/10.5089/9781455211746.001
IMF Working Paper — Rebalancing in Japan: The Role of Private Consumption (Kiichi Tokuoka, December 1, 2010).