Public Policy Review

2005 - 2026

From Policy Research Institute, Ministry of Finance Japan
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Volume 22, issue 1, 2026

Evaluating Tax Return Data as a Source of Income Statistics pp. 1-37

Takashi Unayama, Shinpei Sano, Kazufumi Yugami and Kazuhiro Inaba

Analysis of loss-making corporations using corporate tax returns pp. 1-79

Takero Doi, Shun-ichiro Bessho and Katsuki Mori

The ‘Flexible Declaration Scheme’ of Japan Customs:Prevalence, Determinants, and Consequences pp. 1-34

Shintaro Negishi, Akira Sasahara, Takanori Otsuka and Fumiharu Ito

Burden Reduction and Redistribution Effects of Deductions in Income Tax: An Analysis Using Tax Data pp. 1-27

Taro Ohno, Shingo Okamoto and Kazuhiro Inaba

Volume 21, issue 4, 2026

Business cycle indicators have traditionally been expected to capture the common cyclical factors across the economy. More recently, however, a new perspective has emerged ―one that defines business cycles as fluctuations in the aggregate level of economic activity.Under this new view, consumption data from household surveys play a more important role, as they provide comprehensive coverage of consumption ― the largest component of GDP and allow for flexible decomposition useful for business cycle assessment. Until now, the only demand-side source of consumption data has been the Family Income and Expenditure Survey (FIES), which has not been fully utilized as a business cycle indicator due to concerns over its accuracy. To address these challenges, the Ministry of Internal Affairs and Communications began publishing the Consumption Trend Index (CTI-micro) in 2018. This index is constructed by integrating the FIES with the Survey of Household Economy and the Expenditure Monitor Survey for One-person Households. While the CTI-micro is useful for tracking average household consumption, its ability to reflect macro-consumption trends is limited—especially amid rising ratios of single-person households and an increasing number of households overall. To address this limitation, this paper constructs a Population-Adjusted CTI-micro, which incorporates household count data from the Labor Force Survey, and examines its potential use as a real-time business cycle indicator. The Population-Adjusted CTI-micro effectively tracks the macro-consumption in the GDP statistics over the medium term. It allows for flexible decomposition and offers advantages over the CTI-macro, which estimates total consumption only as a single aggregate series. Although the index exhibits relatively large short-term fluctuations, it remains a valuable and sensitive tool for detecting changes in economic conditions pp. 1-29

Takashi Unayama

Trends in Measures of Economic Inequality in Japan pp. 1-20

Shinpei Sano

Utilization of Official Statistics on Foreign Workers in Japan pp. 1-33

Yuki Hashimoto

Disability Statistics: Current Status and Future Directions pp. 1-33

Kodai Matsumoto and Kazufumi Yugami

Reorganization and Integration of Establishment and Enterprise Statistics in Japan pp. 1-21

Mikio Suga

Volume 21, issue 3, 2025

China's Fiscal Situation and Policy Challenges - Fiscal Risk Considerations pp. 1-43

Jiro Naito

China's Medium- and Long-Term Growth Outlook and Constraints pp. 1-33

Tomoyuki Fukumoto

Xi Jinping's Governance Vision as Reflected in Institutional Restructuring pp. 1-25

Kazuko Kojima

Volume 21, issue 2, 2025

Fundamental Corporate Tax Reform: Exploring a New Corporate Tax System with Destination-Based Cash Flow Taxation and Residual Profit Allocation pp. 1-41

Yasuo Bamba

Generative AI and Taxation―From Robot Taxation to AI Applications pp. 1-18

Tetsuya Watanabe

New Developments in the Taxation of Financial Income and Wealthy Individuals pp. 1-43

Naoki Oka

Volume 21, issue 1, 2025

The Complication of Anti-Money Laundering Measures and Taxation ―Sorting out the wandering discussion and future issues― pp. 1-41

Kohei Noda

BEPS 2.0 Dispute Resolution - The Need for Effective Dispute Prevention/Resolution in a Global Taxation Framework pp. 1-20

Mayuko Nakamura

Normative Significance of Tax Procedural Law: Reconstruction of the Principle of Legality pp. 1-12

Tomohiko Tatsumi

Memorandum on the Allocation of Taxing Rights on VAT in the EU:Research Issues in Light of the Precedents of the Court of Justice of the European Union in the Era of the Sixth Directive pp. 1-28

Kentaro Fujiwara

Volume 20, issue 4, 2024

Significance of “Special and Differential Treatment” in the Free Trade System: From the Perspective of the Theory of Plurality of Norms pp. 1-27

Satoshi Kodera

Security Exception Clauses in Post-Globalization — A Study of the GATT/WTO Regime in Historical Perspective pp. 1-33

Yoshinori Abe

Development and Challenges of Infectious Disease Control Measures in Trade Policy: Using COVID-19-related Medical Resources as a Case Study pp. 1-25

Akiko Kato

Volatility of EU’s Carbon Border Adjustment Mechanism (CBAM) under WTO Agreements —The Significance of Leveling the Playing Field and Dispute Avoidance in Global Warming Measures pp. 1-34

Takemasa Sekine

Developments in the Compliance Mechanisms of Free Trade Agreements ―Implications from the Labor and the Environment Chapters in the United States-Mexico-Canada Agreement (USMCA) ― pp. 1-35

Mio Otashiro and Kohei Akiyama

What has Digital Trade Brought to Trade Agreements?—Focusing on Non-trade Concerns pp. 1-45

Aya Iino

Volume 20, issue 3, 2024

A Framework for Macroeconomic Analysis focusing on Net Lending/Borrowing across the Government, Private, and Overseas Sectors pp. 1-32

Shun Maruyama, Toyo Hosoe and Kazuaki Miyachi

Volume 20, issue 2, 2024

Will the U.S. dollar remain strong? pp. 1-29

Masaya Sakuragawa

The Past, Present, and Future of the Euro as an International Currency：Moving Beyond the COVID-19 Pandemic and Russia’s Military Aggression in Ukraine pp. 1-29

Sayuri Ito

Evolution of the International Monetary System from the Perspective of Trilemma Challenges pp. 1-50

Hiro Ito and Masahiro Kawai

Relationship Between the Renminbi Internationalization Strategy and the Digital Yuan, and the Future Outlook pp. 1-46

Eiichi Sekine

Volume 20, issue 1, 2024

Designing a Tax System that Encourages Innovation in Start-ups pp. 1-33

Takayuki Nagato

IMF in the International Monetary System －Globalization and Fragmentation－ pp. 1-31

Akira Ariyoshi

Exchange Rate Regimes and Economic Stability of Emerging Economies:The Role of Inflation Targeting pp. 1-21

Shin-ichi Fukuda

Volume 19, issue 4, 2023

A Survey on Policy Experiences in the Japanese Public Healthcare Systems: Effects of Patient Cost Sharing on Healthcare Utilization and Health pp. 1-33

Michio Yuda

Changes in Effective Tax Rates due to Fundamental Corporate Tax Reforms: Analysis of Financing Neutrality Using a Forward-Looking Model pp. 1-30

Toshiyuki Uemura

The Employment and Earnings of Public Assistance Recipients and the Effects of the 2013 Reform in Japan pp. 1-29

Masayoshi Hayashi

Behavioral Economics of Taxation and Benefits pp. 1-28

Tomoharu Mori

Development of Microsimulation and Burden Structure of Personal Income Taxation pp. 1-38

Taro Ohno

Bunching Estimation and Its Theoretical and Empirical Progress pp. 1-25

Takafumi Suzuki

Emergency Economic Response and Evaluation in the COVID-19 Crisis pp. 1-25

Daigo Nakata

Volume 19, issue 3, 2023

Endogenous Time Preference, and Sustainable Growth and Sustainable Development: An Outlook pp. 1-33

Kei Hosoya

What is fiscal sustainability?―Transversality condition, Domar condition, the fiscal theory of the price level― pp. 1-29

Masataka Eguchi and Toshiya Hatano

On Sustainability of Selective Macroeconomic Problems pp. 1-24

Kazumi Asako

Macroeconomic Analysis of Asset Bubbles and Its Policy Implications: A Review pp. 1-13

Ryo Jinnai

Sustainability of the Pension Systems and the Role of Private Pensions pp. 1-36

Akiko Nomura

Volume 19, issue 2, 2023

Impact of Corruption Revelations on Expenditures: Empirical Analysis Based on Prefectural Data in Japan pp. 1-26

Shigemichi Kanasaka, Takashi Kuramoto and Nobuo Akai

Impact of COVID-19 on Local Public Finance―Did Every Individual Local Government's Balance of General Account Worsen in the COVID-19 Pandemic? pp. 1-24

Tatsuya Ishikawa and Nobuo Akai

The Relationship between Utilization of Financial Statements by Local Governments and Their Fiscal Behavior pp. 1-24

Haruo Kondoh and Akinobu Ogawa

The Effect of Governor Tenure on Local Expenditures: Focusing on Differences in Governor Attributes pp. 1-30

Hidemasa Yoneoka and Nobuo Akai

The Impact of Aging Water Facilities and Charge System on Water Charges pp. 1-27

Koji Yamashita, Nobuo Akai, Kenichiro Fukuda and Takahiro Seki

Natural disasters and local government finance pp. 1-41

Mitsunari Ishida, Taro Ohno and Wataru Kobayashi

Policy Evaluation of Wide-Area Cooperation between Municipalities: Empirical Analysis with “Self-support settlement region framework” as the Case Study pp. 1-57

Tomohisa Miyashita and Eiji Sumi

Volume 19, issue 1, 2023

Over- and Under-Provision of Diabetes Screening: Making More Efficient Use of Healthcare Resources pp. 1-36

Kazumitsu Nawata, Masako Ii and Ryuki Kassai

Reducing the Tendency for Over- and Under-Provision of Health Services at the Point of Care: The Roles of Evidence-Based Medical Education and the Patient-Centered Clinical Method pp. 1-26

Ryuki Kassai and Masako Ii

Quality Indicaters for Treatment Outcomes of Regional Medical Institutions pp. 1-25

Yukiko Ito and Ryuki Kassai

Comparison of Treatment Outcomes of Acute Care Hospitals in Okitama Secondary Medical Care Zone of Yamagata Prefecture pp. 1-40

Yukiko Ito, Takaaki Ikeda, Satoshi Kanke, Ryuki Kassai and Masayasu Murakami

Patient Behavior During the COVID-19 Pandemic and Impacts on Medical Institution Revenue pp. 1-39

Masako Ii, Michiko Moriyama and Sachiko Watanabe