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How Should One Evaluate Fiscal Conditions - A Study Based on the Comparison between Japan and Australia

Author

Listed:
  • Jun Ikeda

    (Australia Japan Research Centre)

Abstract

In comparing fiscal indicators of Japan and Australia, it is generally perceived that Japans fiscal conditions are very serious and those of Australia are very sound. However, in Australia the rising ratio of foreign liabilities to GDP is the source of anxiety in the market, which in turn reduces the flexibility of fiscal policy. If such economic conditions are considered, the evaluation of Australias fiscal conditions is worse than one based on fiscal indicator alone, while the opposite relationship is the case for Japan. The fiscal conditions of the two countries are a good example to demonstrate that fiscal conditions should be evaluated as part of economic conditions.

Suggested Citation

  • Jun Ikeda, 2007. "How Should One Evaluate Fiscal Conditions - A Study Based on the Comparison between Japan and Australia," Macroeconomics Working Papers 22304, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:macroe:22304
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    File URL: http://www.eaber.org/node/22304
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    Keywords

    Fiscal Conditions; Japan; Australia;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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