The impact of fiscal consolidation and structural reforms on growth in Japan /

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Bibliographic Details
Author / Creator:	Berkmen, Pelin, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2011.
Description:	1 online resource (21 pages)
Language:	English
Series:	IMF working paper ; WP/11/13 IMF working paper ; WP/11/13.
Subject:	Fiscal policy -- Japan -- Econometric models. Monetary policy -- Japan -- Econometric models. Structural adjustment (Economic policy) -- Japan -- Econometric models. Fiscal policy -- Econometric models. Monetary policy -- Econometric models. Structural adjustment (Economic policy) -- Econometric models. Japan.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498951

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Asia and Pacific Department, issuing body.
ISBN:	1283556545 9781283556545 9781455247837 1455247839 9781455214822 1455214825 9781455211913
Notes:	Title from PDF title page (IMF Web site, viewed March 24, 2011). At head of titleA: Asia and Pacific Department. "January 2011." Title from PDF title page (IMF, viewed Oct. 21, 2011). Includes bibliographical references (page 14).
Summary:	With Japans 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 IMFs 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.
Other form:	Print version: Berkmen, Pelin. Impact of Fiscal Consolidation and Structural Reforms on Growth in Japan. Washington : International Monetary Fund, ©2011 9781455211913

Table of Contents:

Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The Model; III. Calibration; IV. Impact of Fiscal Consolidation on Growth; V. Impact of Combined Policy Package of Fiscal Consolidation and Structural Reforms; 1. Fiscal Consolidation and Structural Reforms in Japan; VI. Spillovers from the Rest of the World; 2. Fiscal Consolidation and Structural Reforms in Japan and the Rest of the Regions; VII. Conclusions; Appendix; 1. Long Run Growth Rates and Interest Rates; 2. Utility Functions; 3. Elasticities of Substitution; 4. Steady State Markups.
5. Steady State Expenditure to GDP Ratios6. Steady State Factor Shares and Depreciation Rates; 7. Miscellaneous Steady State Ratios and Parameters; 8. Financial Accelerator; 9. Monetary Rule Parameters; 10. Fiscal Rule Parameters; References; Footnotes.

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