Fiscal policy and fiscal reconstruction in Japan |
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Authors: | Toshihiro Ihori |
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Affiliation: | (1) Graduate School of Economics, University of Tokyo, 7-3-1 Hongo, Bunkyo-ku, Tokyo 113, Japan |
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Abstract: | This paper investigates the macroeconomic effect of fiscal policy and the fiscal reconstruction movement in Japan. I first summarize Japanese fiscal policy in the recent years and discuss sustainability of government deficits. Then, I investigate the macroeconomic effect of Japanese fiscal policy and evaluate the plausibility of the Keynesian and non-Keynesian effects. I also analyze political constraints in the fiscal reconstruction attempts and the possibility of crowding-in effect of fiscal reform. Finally, I discuss some measures for the successful fiscal reconstruction reform in the near future. JEL Code H30 · H60 |
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Keywords: | Japanese fiscal policy Fiscal reconstruction Government deficits |
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