{
  "title": "Japan: Staff Report for the 2012 Article IV Consultation",
  "publication": "IMF Staff Country Reports, August 1, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/japan-staff-report-for-the-2012-article-iv-consultation-26135",
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  "summary": "The Japanese economy has shown robust growth after the March 2011 Great East Japan earthquake. Post-earthquake, Japan has had to deal with devastating human toll and destruction, while businesses and households have had to recover from the losses.",
  "sections": [
    {
      "heading": "Major findings",
      "content": "- The Japanese economy has shown robust growth after the March 2011 Great East Japan earthquake.\n- Exports were impacted by supply chain disruptions, weak global demand, and an appreciation of the yen.\n- The Executive Board noted that despite weak global demand, the Japanese economy has shown remarkable resilience to severe economic distress and moderate market shocks."
    },
    {
      "heading": "Economic impacts of the March 2011 earthquake",
      "content": "- Devastating human toll and destruction affected businesses and households, which had to recover from losses.\n- Supply chain disruptions contributed to weaker export performance.\n- External demand conditions were characterized as weak global demand.\n- Exchange rate developments included an appreciation of the yen, which weighed on export competitiveness."
    },
    {
      "heading": "Resilience and policy implications",
      "content": "- Noted resilience: economy remained robust despite severe economic distress and moderate market shocks.\n- Implicit policy challenges (as reflected in subject headings): fiscal consolidation, fiscal policy, public debt, consumption taxes, inflation, banking, and taxes."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Banking, Consumption taxes, Fiscal consolidation, Fiscal policy, Inflation, Prices, Public debt, Taxes\n- Keywords: Asia and Pacific, consultation, Consumption taxes, core inflation, CR, credit intermediation, due diligence, Europe, evaluation, evaluation report, Fiscal consolidation, Global, headline inflation, I. membership status, Inflation, ISCR, IV, reconstruction spending, tax bill\n\nInternational Monetary Fund. \"Japan: Staff Report for the 2012 Article IV Consultation\", IMF Staff Country Reports 2012, 208 (2012).\n\n---\n\n Content in this bundle\n\n- Japan: 2012 Article IV Consultation; IMF Country Report No. 12/208; July 10, 2012\n  - Japan: 2012 Article IV Consultation; IMF Country Report No. 12/208; July 10, 2012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Japan: 2012 Article IV Consultation; IMF Country Report No. 12/208; July 10, 2012 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 1, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475506334.002",
    "The Japanese economy has shown robust growth after the March 2011 Great East Japan earthquake.",
    "Exports were impacted by supply chain disruptions, weak global demand, and an appreciation of the yen.",
    "The Executive Board noted that despite weak global demand, the Japanese economy has shown remarkable resilience to severe economic distress and moderate market shocks.",
    "Devastating human toll and destruction affected businesses and households, which had to recover from losses.",
    "Supply chain disruptions contributed to weaker export performance.",
    "External demand conditions were characterized as weak global demand.",
    "Exchange rate developments included an appreciation of the yen, which weighed on export competitiveness.",
    "Noted resilience: economy remained robust despite severe economic distress and moderate market shocks.",
    "Implicit policy challenges (as reflected in subject headings): fiscal consolidation, fiscal policy, public debt, consumption taxes, inflation, banking, and taxes.",
    "Subjects: Banking, Consumption taxes, Fiscal consolidation, Fiscal policy, Inflation, Prices, Public debt, Taxes",
    "Keywords: Asia and Pacific, consultation, Consumption taxes, core inflation, CR, credit intermediation, due diligence, Europe, evaluation, evaluation report, Fiscal consolidation, Global, headline inflation, I. membership status, Inflation, ISCR, IV, reconstruction spending, tax bill",
    "**Japan: 2012 Article IV Consultation; IMF Country Report No. 12/208; July 10, 2012**"
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