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• W3123828566 abstract "In the 1990s and the 2000s, the average nominal wage in Japan declined continuously. This is a sharp contrast to wage trends in other developed countries in the same period. This study seeks to provide new quantitative evidence on the possible factors contributing to the nominal wage decline in Japan's so-called two lost decades employing the Blinder-Oaxaca decomposition method using data from the Basic Survey on Wage Structure for 1993-2008. We find that half of the decline of the average wage in the total economy is due to the growing employment share of low-wage industries.Further, we decompose changes in average wages at the industry level for three subperiods representing different phases of the business cycle in Japan. Controlling for worker characteristics, we find the wages of workers in the manufacturing, wholesale, and medical, health care, and welfare industries declined between 1998 and 2003. Further, our results show that 1997 was the turning point in terms of changes in the wage structure. In addition, we find that wages for workers with the same characteristics continued to decline in the 2000s, albeit at a slower pace, and the main factor responsible for the wage decline was changes in the composition of the workforce in the wholesale, retail, and medical, health care, and welfare industries.Keywords: Nominal wage decline, Deflation, Changes in industrial structure, Blinder-Oaxaca DecompositionJEL Classification: J31, E24, E32, L80(ProQuest: ... denotes formulae omitted.)I. IntroductionIn the 1990s and the 2000s, the average nominal wage in Japan declined continuously.1 This is a sharp contrast to wage trends in other developed countries in the same period. As shown in Figure 1, OECD statistics indicate that the average nominal wage in the United States was 97 percent higher and that Germany 68 percent higher in 2012 than in 1991. On the other hand, in Japan, the average nominal wage has been declining since 1997 and in 2012 was 7 percent lower than in 1991. Against this background, Japanese Prime Minister Shinzo Abe recently asked business leaders to raise wages, reflecting the administration's resolve to accelerate the battle against chronic deflation (The Japan Times 2013). Some companies responded, with Lawson, a convenience store chain, for example, raising bonuses for their regular workers (Nikkei Shimbun 2013), Moreover, Toyota, the car manufacturer, and Hitachi, a major electrical machinery conglomerate, promised to increase base wages in the so-called wage spring offensive (SankeiBiz 2014).Yoshikawa (2013) argued that the wage decline was due to both the rise in the number of low wage workers such as non-regular workers and a wage decline among regular workers. Meanwhile, Kuroda and Yamamoto (2006), using data from the Basic Survey on Wage Structure for 1985-2001, showed that the annual wages of full-time workers steadily fell from 1998 onward.2 However, there are few studies providing a quantitative analysis of the factors underlying this wage decline. Yet, in order to understand the decline in wages, it is important to know what factors are driving it. For example, if the increase in the share of the number of part-time workers is the main factor driving the wage decline, then wage increases for regular workers are unlikely to raise the average wage. Similarly, if the wage decline is due to changes in industrial structures resulting in an increase in the employment share of low-wage industries, wage increases at individual firms are unlikely to reverse the trend. The question therefore arises whether Prime Minister Abe's call on firms to raise wages will raise the average wage in Japan.Given these considerations, the present study seeks to provide new evidence on the possible factors contributing to the nominal wage deafter cline in Japan's so-called two lost decades of the 1990s and the 2000s by quantitatively examining the causes of the decline in nominal wages for the economy as a whole as well as at the industry level. …" @default.
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• W3123828566 date "2015-03-30" @default.
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• W3123828566 title "A Decomposition of the Decline in Japanese Nominal Wages in the 1990s and 2000s" @default.
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