The ESRI Short-Run Macroeconometric Model of Japanese Economy (2004 version) - Basic Structure, Multipliers, and Economic Policy Analyses -(in Japanese)

Keiko Murata and Tatsuo Saitou

ESRI Discussion paper series from Economic and Social Research Institute (ESRI)

Abstract: This paper describes the basic structure and multipliers of the 2004 revised version of the ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was firstly released in 1998 (Hori et al. [1998]). The following are some of the multipliers of our policy simulations. The peak of fiscal multiplier, i.e., the effect of government investments on GDP, is about 1.1 in Japan. The effect of income tax reduction is smaller due to its leak to household savings. Monetary policy takes some time before its effects become evident.

Pages: 97 pages
Date: 2004-11
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:esj:esridp:122

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