Japan's Challenging Debt Dynamics:
This working paper presents the background and the details of the simulations behind Box 1.4 of the May 2013 OECD Economic Outlook. A small simulation model is used to evaluate the contribution that the three pillars of the government's strategy - fiscal consolidation, growth-boosting structura...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2013
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Links: | https://doi.org/10.1787/5k41w045v6mp-en |
| Summary: | This working paper presents the background and the details of the simulations behind Box 1.4 of the May 2013 OECD Economic Outlook. A small simulation model is used to evaluate the contribution that the three pillars of the government's strategy - fiscal consolidation, growth-boosting structural reforms and higher inflation - could make to reversing the rise in Japan's public debt ratio, currently about 230% of GDP. The findings indicate that fiscal consolidation amounting to around 10 percentage points of GDP is necessary by 2020 to eliminate the primary deficit, as targeted in the current medium-term fiscal strategy. With moderately higher growth coming from increased female labour force participation and higher productivity growth, as well as inflation gradually rising to 2% thanks to unconventional monetary policy measures, the debt ratio would likely be put on a resolute downward trajectory by the end of this decade, although it is likely to remain around 200% of GDP in 2035 |
| Physical Description: | 1 Online-Ressource (16 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k41w045v6mp-en |
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| indexdate | 2025-01-11T15:45:58Z |
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| language | English |
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| physical | 1 Online-Ressource (16 Seiten) 21 x 29.7cm |
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| publishDate | 2013 |
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| publisher | OECD Publishing |
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| series2 | OECD Economics Department Working Papers |
| spellingShingle | Guillemette, Yvan Japan's Challenging Debt Dynamics Economics Japan |
| title | Japan's Challenging Debt Dynamics |
| title_alt | L'inquiétante évolution de la dette publique au Japon |
| title_auth | Japan's Challenging Debt Dynamics |
| title_exact_search | Japan's Challenging Debt Dynamics |
| title_full | Japan's Challenging Debt Dynamics Yvan Guillemette and Jan Stráský = L'inquiétante évolution de la dette publique au Japon / Yvan Guillemette et Jan Stráský |
| title_fullStr | Japan's Challenging Debt Dynamics Yvan Guillemette and Jan Stráský = L'inquiétante évolution de la dette publique au Japon / Yvan Guillemette et Jan Stráský |
| title_full_unstemmed | Japan's Challenging Debt Dynamics Yvan Guillemette and Jan Stráský = L'inquiétante évolution de la dette publique au Japon / Yvan Guillemette et Jan Stráský |
| title_short | Japan's Challenging Debt Dynamics |
| title_sort | japan s challenging debt dynamics |
| topic | Economics Japan |
| topic_facet | Economics Japan |
| url | https://doi.org/10.1787/5k41w045v6mp-en |
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