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Policies and Prospects in Japan and The Implications for the Asia-Pacific Region
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Author/Editor: |
Callen, Tim | McKibbin, Warwick J. |
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September 1, 2001 |
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Electronic Access: |
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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.
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Summary: This paper uses the G-Cubed (Asia-Pacific) model-a macroeconomic model with rich cross-country links-to explore the implications for Japan and Asia of several shocks to the Japanese economy. The results suggest that, while fiscal consolidation in Japan would initially dampen domestic growth, over the medium term the impact on both the domestic and regional economies would be positive. Quantitative monetary easing in Japan would boost domestic activity in the short-run, while being basically neutral for the region. Finally, a loss of confidence in the yen would be negative for Japan, but positive for the region because of a reallocation of capital flows toward non-Japan Asia.
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Series: |
Working Paper No. 01/131 |
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Subject(s): |
Economic policy | Japan | Asia-Pacific Economic Cooperation Council | Economic models |
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Author's keyword(s): |
Japan
| Asia-Pacific region
| macroeconomic model
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Published: |
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September 1, 2001 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA1312001 |
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Pages: |
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57 |
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Price: |
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US$15.00
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Price Delivery Note: |
Prepayment required for individual copies. An annual subscription is $375.00 a year. It includes 12 monthly shipments and priority mail delivery. The Stock No. for the subscription is WPEA. |
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