IMF Staff Country Reports

Japan: Selected Issues

Publication Date:

July 29, 2008

Electronic Access:

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Summary:

This Selected Issues paper discusses the impact of global financial turmoil on Japan. It describes how close integration in global financial markets has deepened and expanded the channels for spillovers. The paper discusses options for increasing the consumption tax to finance the public pension system. It explains that while parametric reforms have reduced fiscal pressures, the basic pension is becoming a less adequate safety net for the retired. The paper also attempts to explain the declining share of labor income.

Series:

Country Report No. 2008/254

Subject:

Employment Expenditure Labor Labor share Pension spending Pensions Wages