How Should One Evaluate Fiscal Conditions - A Study Based on the Comparison between Japan and Australia

Jun Ikeda
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Jun Ikeda: Australia Japan Research Centre

Macroeconomics Working Papers from East Asian Bureau of Economic Research

Abstract: In comparing fiscal indicators of Japan and Australia, it is generally perceived that Japans fiscal conditions are very serious and those of Australia are very sound. However, in Australia the rising ratio of foreign liabilities to GDP is the source of anxiety in the market, which in turn reduces the flexibility of fiscal policy. If such economic conditions are considered, the evaluation of Australias fiscal conditions is worse than one based on fiscal indicator alone, while the opposite relationship is the case for Japan. The fiscal conditions of the two countries are a good example to demonstrate that fiscal conditions should be evaluated as part of economic conditions.

Keywords: Fiscal Conditions; Japan; Australia (search for similar items in EconPapers)
JEL-codes: E62 E63 H30 (search for similar items in EconPapers)
Date: 2007-01
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Citations: View citations in EconPapers (1)

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