2023-09-28 14:46:10 +00:00
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abstract: 'This paper studies the evolution of income concentration in Japan from
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1886 to 2005 by constructing long-run series of top income shares and
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top wage income shares, using income tax statistics. We find that (i)
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income concentration was extremely high throughout the pre-WWII period
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during which the nation underwent rapid industrialization; (ii) a
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drastic de-concentration of income at the top took place in 1938-1945;
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(iii) income concentration remained low during the rest of the century
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but shows some sign of increase in the last decade; and (iv) top income
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composition in Japan has shifted dramatically from capital income to
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employment income over the course of the twentieth century. We attribute
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the precipitous fall in income concentration during WWII primarily to
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the collapse of capital income due to wartime regulations and inflation.
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We argue that the change in the institutional structure under the
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occupational reforms made the one-time income de-concentration difficult
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to reverse. In contrast to the sharp increase in wage income inequality
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observed in the United States since 1970, the top wage income shares in
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Japan have remained relatively stable over the last thirty years. We
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show that the change in technology or tax policies alone cannot account
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for the comparative experience of Japan and the United States. Instead
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we suggest that institutional factors such as internal labor markets and
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union structure are important determinants of wage income concentration.'
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affiliation: 'Moriguchi, C (Corresponding Author), Northwestern Univ, Evanston, IL
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60208 USA.
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Moriguchi, Chiaki, Northwestern Univ, Evanston, IL 60208 USA.
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NBER, Cambridge, MA 02138 USA.
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Univ Calif Berkeley, Berkeley, CA 94720 USA.'
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author: Moriguchi, Chiaki and Saez, Emmanuel
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author_list:
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- family: Moriguchi
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given: Chiaki
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- family: Saez
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given: Emmanuel
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da: '2023-09-28'
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doi: 10.1162/rest.90.4.713
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files: []
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issn: 0034-6535
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journal: REVIEW OF ECONOMICS AND STATISTICS
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keywords-plus: UNITED-STATES; INEQUALITY; GROWTH; PANEL
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language: English
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month: NOV
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number: '4'
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number-of-cited-references: '83'
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pages: 713-734
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papis_id: 50d3497b762dc75c1f47c1c58ad23130
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ref: Moriguchi2008evolutionincome
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times-cited: '56'
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title: 'THE EVOLUTION OF INCOME CONCENTRATION IN JAPAN, 1886-2005: EVIDENCE FROM INCOME
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TAX STATISTICS'
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000260428400008
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usage-count-last-180-days: '1'
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usage-count-since-2013: '23'
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volume: '90'
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web-of-science-categories: Economics; Social Sciences, Mathematical Methods
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year: '2008'
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