The Fiscal Stance in Japan : A Model-based Analysis /

This paper assesses Japan's fiscal stance in the past and the future with a stochastic structural model called the Buffer-Stock Model of the Government. Our retrospective analysis suggests that the fiscal stance in the 1990s and the early 2000s was overall looser than the model recommendations....

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Bibliographic Details
Main Author: Fournier, Jean-Marc
Other Authors: Hisanaga, Takuma, Nguyen, Anh
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2022.
Series:IMF Working Papers; Working Paper ; No. 2022/164
Subjects:
Online Access:Full text available on IMF
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520 3 |a This paper assesses Japan's fiscal stance in the past and the future with a stochastic structural model called the Buffer-Stock Model of the Government. Our retrospective analysis suggests that the fiscal stance in the 1990s and the early 2000s was overall looser than the model recommendations. As for the future, the model advises the near-term fiscal policy to be supportive with a view to narrowing the output gap and minimizing hysteresis, while recommending a fiscal consolidation over the medium-term at a gradual pace. 
538 |a Mode of access: Internet 
650 7 |a Business Fluctuations  |2 imf 
650 7 |a Cycles  |2 imf 
650 7 |a Macroeconomic Policy, Macroeconomic Aspects of Public Finance  |2 imf 
650 7 |a National Deficit Surplus  |2 imf 
700 1 |a Hisanaga, Takuma. 
700 1 |a Nguyen, Anh. 
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