Social Capital and Lifestyle under Austerity

Abstract

This panel seeks to explore the relationship between social capital and lifestyle under austerity. Yasuharu Ukai presents a paper that examines leadership gap between the right and the left, focusing on social security expenditure indexes and labor productivity during 1980- 2009 in Japan. In the case of real social security expenditure per labor and per total working hours, labor productivity decreases with respect to real social security. On the other hand, in the case of real social security expenditure per private capital stock, labor productivity increases with respect to real social security. However, the partial regression coefficients of these three indexes are not significant statistically. Ukai shows us the difficulty in deriving a clear relationship between the social security indexes and labor productivity.

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