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Product Turnover and Deflation : Evidence from Japan
http://hdl.handle.net/2261/61239
http://hdl.handle.net/2261/612390ec92afd-634e-418b-b193-9b7d4f3ba619
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
wp091.pdf (685.0 kB)
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| Item type | テクニカルレポート / Technical Report(1) | |||||
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| 公開日 | 2016-12-05 | |||||
| タイトル | ||||||
| タイトル | Product Turnover and Deflation : Evidence from Japan | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | cost-of-living index | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | product creation and destruction | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | fashion effect | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | substitution | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | lost decades | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| 著者 |
Ueda, Kozo
× Ueda, Kozo× Watanabe, Kota× Watanabe, Tsutomu |
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| 著者所属 | ||||||
| 著者所属 | Waseda University and Centre for Applied Macroeconomic Analysis (CAMA) | |||||
| 著者所属 | ||||||
| 著者所属 | Canon Institute for Global Studies and University of Tokyo | |||||
| 著者所属 | ||||||
| 著者所属 | University of Tokyo | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | In this study, we evaluate the effects of product turnover on a welfare-based cost-of-living index. We first present several facts about price and quantity changes over the product cycle employing scanner data for Japan for the years 1988-2013, which cover the deflationary period that started in the mid 1990s. We then develop a new method to decompose price changes at the time of product turnover into those due to the quality effect and those due to the fashion effect (i.e., the higher demand for products that are new). Our main findings are as follows: (i) the price and quantity of a new product tend to be higher than those of its predecessor at its exit from the market, implying that Japanese firms use new products as an opportunity to take back the price decline that occurred during the life of its predecessor under deflation; (ii) a considerable fashion effect exists, while the quality effect is slightly declining; and (iii) the discrepancy between the cost-of- living index estimated based on our methodology and the price index constructed only from a matched sample is not large. Our study provides a plausible story to explain why Japan's deflation during the lost decades was mild. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 2012～2016年度科学研究費補助金[基盤研究(S)]「長期デフレの解明」(研究代表者 東京大学経済学研究科・渡辺努, 課題番号：24223003) | |||||
| 書誌情報 |
JSPS Grants-in-Aid for Scientific Research (S) Understanding Persistent Deflation in Japan Working Paper Series 巻 091, 発行日 2016-12 |
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| 出版者 | ||||||
| 出版者 | UTokyo Price Project | |||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.price.e.u-tokyo.ac.jp/researchdata/ | |||||
