Financial Crisis and Long-term Stagnation in Japan: Fiscal Consolidation under Deflationary Pressures
The Japanese economy faces a number of difficult economic problems to solve; declining working-age population, long-term deflation, monetary policy with zero-interest rate floor, and a large budget deficit. In this paper, we propose a few macro-economic measures to raise taxes without hurting the economic recovery. Specifically, gradual increases in indirect taxes with reductions in payroll tax and corporate income tax will be most effective in improving the Japanese fiscal situations.
|Date of creation:||2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://ies.keio.ac.jp/old_project/old/gcoe-econbus/
More information through EDIRC
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.:
- Mitsuhiro Fukao, 2006.
"Financial Strains and the Zero Lower Bound: The Japanese Experience,"
in: Monetary Policy with Very Low Inflation in the Pacific Rim, NBER-EASE, Volume 15, pages 203-232
National Bureau of Economic Research, Inc.
- Mitsuhiro Fukao, 2003. "Financial strains and the zero lower bound: the Japanese experience," BIS Working Papers 141, Bank for International Settlements.
When requesting a correction, please mention this item's handle: RePEc:kei:dpaper:2010-010. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Global COE Program Office)The email address of this maintainer does not seem to be valid anymore. Please ask Global COE Program Office to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.