Japan's Fiscal Policy and Fiscal Reconstruction

Toshihiro Ihori and Atsushi Nakamoto

Hi-Stat Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: This paper investigates the macroeconomic effects of fiscal policy and the fiscal reconstruction movement in Japan. We first summarize Japan's fiscal policy in recent years and discuss advantages and disadvantages of government deficits. Next, we investigate the macroeconomic effects of Japanese fiscal policy and evaluate the plausibility of non-Keynesian effects. We also analyze the possibility of the crowding-in effect of fiscal policy and investigate the spillover effects of deregulation. Finally, we discuss political constraints in the fiscal reconstruction attempts and propose some measures for successful fiscal reforms in the near future.

Date: 2005-06
New Economics Papers: this item is included in nep-mac, nep-pbe and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:hst:hstdps:d05-99

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