The Impact of demographic change on aggregate final consumption : Japan's experiences and prospects from a national accounting perspective

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000cab a22000004u 4500</leader>
    <controlfield tag="001">MAP20260014999</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20260603180737.0</controlfield>
    <controlfield tag="008">260205s2026    ja|||||       ||| ||eng d</controlfield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="b">spa</subfield>
      <subfield code="a">MAP</subfield>
      <subfield code="d">MAP</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">921.4</subfield>
    </datafield>
    <datafield tag="100" ind1="1" ind2=" ">
      <subfield code="0">MAPA20260008615</subfield>
      <subfield code="a">Waldenberger, Franz</subfield>
    </datafield>
    <datafield tag="245" ind1="1" ind2="4">
      <subfield code="a">The Impact of demographic change on aggregate final consumption : Japan's experiences and prospects from a national accounting perspective</subfield>
      <subfield code="c">Franz Waldenberger</subfield>
    </datafield>
    <datafield tag="520" ind1=" " ind2=" ">
      <subfield code="a">Using the accounting methodology of the Statistics of National Accounts, this paper analyzes Japan's macroeconomic performance under demographic change from 1994 to 2023, when the working-age population share declined from 69.9% to 59.5% and the population aged 65+ more than doubled. Despite demographic pressure, per capita final consumption rose by 40%, supported by productivity growth and increased employment rates. The paper examines adjustments in labor supply, saving, and investment, and projects moderate future impacts of aging on working hours, offset by productivity gains. It argues that Japan can sustain per capita consumption growth until 2070 by utilizing accumulated capital and running trade deficits, given its large net foreign assets.</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080611897</subfield>
      <subfield code="a">Perspectivas económicas</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080553883</subfield>
      <subfield code="a">Demografía</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080605858</subfield>
      <subfield code="a">Economía internacional</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080600648</subfield>
      <subfield code="a">Crecimiento económico</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080586850</subfield>
      <subfield code="a">Política económica</subfield>
    </datafield>
    <datafield tag="651" ind1=" " ind2=" ">
      <subfield code="0">MAPA20080650919</subfield>
      <subfield code="a">Japón</subfield>
    </datafield>
    <datafield tag="773" ind1="0" ind2=" ">
      <subfield code="w">MAP20210010194</subfield>
      <subfield code="g">13/04/2026 Volumen 34 - 2026 </subfield>
      <subfield code="t">The Journal of the economics of ageing </subfield>
      <subfield code="d">Oxford : Elsevier ScienceDirect, 2021-</subfield>
    </datafield>
    <datafield tag="856" ind1="4" ind2=" ">
      <subfield code="u">https://doi.org/10.1016/j.jeoa.2026.100620</subfield>
    </datafield>
  </record>
</collection>