|
|
|
|
|
|
Author/Editor:
|
Berkmen, Pelin
|
|
|
|
|
|
Publication Date:
|
January 01, 2011
|
|
|
|
Electronic Access:
|
Free Full text
(PDF file size is 1,101KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
|
|
|
|
|
Summary:
With Japan’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 IMF’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.
|
|
|
|
Order a print copy
|
|
|
|
|
|
Series:
|
Working Paper No. 11/13
|
|
|
|
|
|
Subject(s):
|
Economic growth | Economic models | Fiscal consolidation | Fiscal policy | Fiscal reforms | Japan | Monetary policy | Taxes
|
|
|
Author's Keyword(s):
|
Fiscal consolidation | tax reform | structural policies |
|
|
|
|
|
|
|
|
|
|
English
|
|
|
|
|
|
|
Publication Date:
|
January 01, 2011
|
|
|
|
|
|
|
|
Format:
|
Paper
|
|
Stock No:
|
WPIEA2011013
|
|
Pages:
|
21
|
|
Price:
|
|
|
|
US$18.00 )
|
|
|
|
|
|
|
|
|
Please address any questions about this title to
publications@imf.org
|
|
|
