Population Decline,Labor Force Stability,and the Future of the Japanese Economy |
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Authors: | Robert L Clark Naohiro Ogawa Makoto Kondo Rikiya Matsukura |
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Institution: | (1) College of Management, North Carolina State University, Box 7229, Raleigh, NC 27695, USA;(2) Nihon University Population Research Institute, Tokyo, Japan;(3) Kobe Gakuin University, Kobe, Japan |
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Abstract: | Demographic trends in Japan are producing a declining population that is rapidly growing older. With a total fertility rate
of around 1.3 children per woman, the population has already begun to decline. This article examines the impact of these demographic
trends on the level of employment and economic growth that Japan is projected to experience over the next 20 years. We explore
the effect of changes in labor market policies on age-specific employment rates and assess whether innovative policies can
moderate the decline in employment. Public policies encouraging increased employment of women and persons aged 60 and older
could partially offset the anticipated decline in employment. The importance of the Japanese experience for European policy
makers is discussed. |
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Keywords: | |
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