The Impact of Fiscal Consolidation and Structural Reformson Growth in Japan
AbstractWith Japanâ€™s public debt reaching historical levels, the need for fiscal consolidation and structural reforms have increased. As fiscal consolidation will require a sustained and large adjustment in the fiscal balance, its growth effect is a concern particularly for the short run. This paper uses the IMFâ€™s Global Integrated Monetary and Fiscal Model to analyze the growth impact of fiscal consolidation and structural reforms. Although fiscal consolidation has short-term costs, the potential long-term benefits are considerable, and reforms that raise potential growth could support consolidation. Simulations show that the external environment also matters but domestic policies should be the priority.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 11/13.
Date of creation: 01 Jan 2011
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
- NEP-CMP-2011-02-26 (Computational Economics)
- NEP-FDG-2011-02-26 (Financial Development & Growth)
- NEP-MAC-2011-02-26 (Macroeconomics)
- NEP-PBE-2011-02-26 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kozo Kiyota & Takanobu Nakajima & Kiyohiko G. Nishimura, 2009. "Measurement of the market power of firms: the Japanese case in the 1990s," Industrial and Corporate Change, Oxford University Press, vol. 18(3), pages 381-414, June.
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