Government Deficit and Fiscal Reform in Japan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Government Deficit and Fiscal Reform in Japan write by Toshihiro Ihori. This book was released on 2012-12-06. Government Deficit and Fiscal Reform in Japan available in PDF, EPUB and Kindle. Government Deficit And Fiscal Reform In Japan presents a theoretical-based comprehensive analysis of economic consequences of government deficits and fiscal reform in Japan. Particular emphasis is directed at developing tools that can be applied to theoretically and empirically clarify essential economic concerns in Japan such as generational incidence of fiscal reform and a growing dependence on government bonds for covering financial deficits. This book evaluates the recent movement of Japanese fiscal reform and government deficit. The authors first summarize fiscal policy in 1990's. Then, they move on to investigate the macroeconomic impact of government dept and the sustainability problem, and then discuss benefits and costs of public investment. The political aspect of fiscal reconstruction movements in Japan is also examined. Finally, the authors investigate the behavior of central government's control on local governments' debt issuance and its effect on the real activities of local governments. This book points out that the long-run structural fiscal reform is more important than the short-run Keynesian fiscal policy in Japan.
Fiscal Reform and Government Debt in Japan
Fiscal Reform and Government Debt in Japan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Reform and Government Debt in Japan write by Gary Duane Hansen. This book was released on 2013. Fiscal Reform and Government Debt in Japan available in PDF, EPUB and Kindle. Past government spending in Japan is currently imposing a significant fiscal burden that is reflected in a net debt to output ratio near 150 percent. In addition, the aging of Japanese society implies that public expenditures and transfers payments relative to output are projected to continue to rise until at least 2050. In this paper we use a standard growth model to measure the size of this burden in the form of additional taxes required to finance these projected expenditures and to stabilize government debt. The fiscal adjustment needed is very large, in the range of 30-40% of total consumption expenditures. Using a distorting tax such as the consumption tax or the labor income tax requires either tax to rise to unprecedented highs, although the former is much less distorting than the latter. The extremely high tax rates we find highlight the importance of considering alternatives that attenuate the projected increases in public spending and/or enlarge the tax base.
The Political Economy of Fiscal Consolidation in Japan
The Political Economy of Fiscal Consolidation in Japan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Political Economy of Fiscal Consolidation in Japan write by Toshihiro Ihori. This book was released on 2014-11-21. The Political Economy of Fiscal Consolidation in Japan available in PDF, EPUB and Kindle. This book investigates the reasons for persistent public deficits and delayed fiscal reform in Japan, placing a special emphasis on political economy aspects. Japan is confronted with the need to pursue fiscal discipline for fiscal consolidation and implement structural reforms for reorganizing fiscal expenditures. Focusing on particular policy fields including social security, female labor supply, public works, and intergovernmental transfer schemes, the book clarifies economic and political elements that have hindered effective steps toward these two goals. Facing population aging and a business downturn, the Japanese government was urged to increase social security expenditures and the budget for Keynesian stimulus policies. As elucidated in the book, the institutional design has worked to over-represent the demands of elderly generations and local interest groups and to expand these expenditures. Rigorous theoretical and numerical analyses reported throughout the book consequently provide readers with insights into incentive designs and institutional reforms necessary for fiscal consolidation, also presenting points of view for public policy and public debate.
Making Fiscal Policy in Japan
Making Fiscal Policy in Japan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Making Fiscal Policy in Japan write by Hiromitsu Ishi. This book was released on 2000-12-07. Making Fiscal Policy in Japan available in PDF, EPUB and Kindle. Making Fiscal Policy in Japan is written for those who want to understand the role and performance of fiscal policy as an integral component of macroeconomic policy, and the attendant effects on economic growth. The case explored here is post-Second World War Japan, but the approach is one of international comparison. Ishi traces and analyses the central features of postwar Japanese fiscal policy and considers the institutional framework and policy objectives which shaped the budget process. The first part of the book provides a detailed overview of the topic, with detailed institutional and empirical information. In particular, the role that government played in Japan's postwar economic growth is explored in depth, with specific focus on the four sub-periods of occupation, rapid economic growth, internationalization, and the bubble economy. Part II explains the basic framework of budgets, the budgetary process in Japan, and fundamental strategies of fiscal authority. It looks in depth at the unique aspects of the balanced budget policy for 1953-65 and then at how financial resources for budgeting were automatically generated in a growing economy. The final part analyses specific policy issues in the public sector, among them human resource development, the ageing population and the social security system, tax incentives for export promotion, the Fiscal Investment and Loan Programme, and intergovernmental grant policy. Ishi argues that the Japanese government has been generally passive in guiding the state's economic activities, using fiscal policy to support the private economy rather than directly to influence the economy through deliberate expenditure and tax policies. The approach has been one of enhancing the market rather than of government intervention.
Japan's Medium
Japan's Medium - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Japan's Medium write by K. Okamura. This book was released on 1996-10-01. Japan's Medium available in PDF, EPUB and Kindle. This paper assesses the sustainability of Japan’s fiscal position. The simulations indicate that, even if the government’s pension reform plan is fully implemented, the initial budget imbalance, combined with pressures from population aging, would lead to explosive increases in government deficits and debt. Present-value calculations point to a fiscal “gap” of about 4 percent of GDP, indicating the combination of tax increases and/or spending cuts that would be required to generate a sustainable long-run fiscal position. Finally, the paper presents an illustrative package of tax and spending measures that could be implemented to close this gap.
