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Fading Ricardian equivalence in ageing Japan /
Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility that an increasing number of households are liquidity constrained. If these development...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2016]
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| Colección: | IMF working paper ;
WP/16/194. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility that an increasing number of households are liquidity constrained. If these developments continue, the impact of fiscal policy on the economy will gradually rise. While this will facilitate using fiscal policy to manage the economic cycle, it also calls for starting fiscal consolidation soon and in a gradual and steady manner, given the unsustainable public debt and the likely increasing challenges in funding the government's rising debt domestically. |
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| Notas: | "September 2016." At head of title: International Monetary Fund, Asia and Pacific Department. |
| Descripción Física: | 1 online resource (18 pages) : color illustrations |
| Bibliografía: | Includes bibliographical references (pages 17-18). |
| ISBN: | 9781475541649 1475541643 1475541783 9781475541786 |