New research reveals the myth of Japan's 'lost decades'

Prolonged economic recovery has been a period of increasing well-being

Hiroshi Ono and Kelsey J. O'Connor

November 20, 2021 05:00 JST

Young family walk along a street in Tokyo on Aug. 9: the allocation of spending between children and the elderly is at the core of political discourse in Japan. © AP

Hiroshi Ono is professor of human resource management at Hitotsubashi University Business School. Kelsey J. O'Connor is researcher in the economics of well-being at STATEC Research, Luxembourg.

Demographic change, stagnant economic activity and a prolonged period of recovery put tremendous pressure on the Japanese people starting from the early 1990s.