Looking from Gross Domestic Income: Alternative view of Japan’s economy

Toshitaka Sekine

Japan and the World Economy, 2022, vol. 64, issue C

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.

Keywords: Gross Domestic Income; Taxation data; Labor share; Potential growth; Japan (search for similar items in EconPapers)
JEL-codes: C13 E01 H24 J30 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0922142522000445
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:japwor:v:64:y:2022:i:c:s0922142522000445

DOI: 10.1016/j.japwor.2022.101159

Access Statistics for this article

Japan and the World Economy is currently edited by Robert Dekle and Yasushi Hamao

More articles in Japan and the World Economy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().