Will a growth miracle reduce debt in Japan? (特集 Macroeconomic Modeling)
Will a growth miracle reduce debt in Japan? (特集 Macroeconomic Modeling)
复制标题
增长奇迹会减少日本的债务吗?(宏观经济模型专题)
DOI:
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发表时间:
2011
期刊:
影响因子:
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通讯作者:
Nao Sudo
中科院分区:
文献类型:
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作者:
Selahattin Imrohoroglu;Nao Sudo
Japan has the highest debt to GDP ratio among the developed nations. In addition, the population is projected to age rapidly over the next few decades, which will significantly increase the ratio of government expenditures to GDP. In this paper, we explore the effect of economic growth driven by total factor productivity on Japanese debt in the face of higher future social security expenditures. Our main finding is that a decade of unprecedentedly fast growth of total factor productivity, at an average of 6% per year, is needed in order for Japan to eliminate its debt. Since this is very unrealistic, what is needed is a significant reduction in government expenditures together with an increase in the consumption tax rate, to eliminate debt in forty years.
DOI:
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发表时间:
2007
期刊:
Fiscal Policy and Management in East Asia 16
影响因子:
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作者:
國広敏文;他;斉藤嘉臣;田尾雅夫;伊多波良雄;土居丈朗;Hiroko Kudo;工藤裕子;土居 丈朗;持田信樹;井堀利宏;山本清;井堀 利宏
通讯作者:
井堀 利宏