How Uncertain Are Economic Policies? Evidence from a survey on Japanese firms

Masayuki Morikawa

Policy Discussion Papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: This study, using data from an original survey covering both public and private firms in Japan, presents evidence on uncertainties over economic policies, their effects on managerial decisions, and firms' evaluations of the government's numerical targets related to economic policies. This study is an extension of Morikawa (2013), but the survey greatly expands its coverage including private firms and adds new questionnaires. The results indicate that Japanese firms perceive uncertainty over the future course of certain economic policies, such as the social security system, tax policy, fiscal expenditures, and international trade policy. Policy uncertainties have substantial effects on managerial decisions, especially on equipment investment and hiring of regular employees. Medium- to long-term numerical targets related to the government's economic policies are generally perceived to be difficult to achieve.

Pages: 18 pages
Date: 2016-04
New Economics Papers: this item is included in nep-hme, nep-pr~ and nep-pbe
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eti:polidp:16008

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