Tackling Japan's Fiscal Challenges: Strategies to Cope with High Public Debt and Population Ageing(Procyclicality of Financial Systems in Asia)

This volumes examines how should Japan cope with its daunting fiscal challenges. As the Japanese economy finally emerges from a long period of weak growth and falling prices burdened by record-high public debt, fiscal adjustment has taken centre stage in the policy agenda and the public debate. Growing demands on the budget from a rapidly ageing society have added urgency to the need to reign in public indebtedness and revamp the pension and healthcare systems. This book combines insights from academic research with the points of view of policymakers to distil key issues that need to inform public debate.

Table of Contents:
Overview of the Japanese Deficit Question; R.G.Hubbard & T.Ito Comments on 'Overview of the Japanese Deficit Question'; D.E.Weinstein Comments on 'Overview of the Japanese Deficit Question'; N.Yoshino Public Debt and Economic Growth in an Ageing Japan; T.Ihori, R.R.Kato, M.Kawade & S.Bessho Comments on 'Public Debt and Economic Growth in an Ageing Japan; R.Dekle Comments on 'Public Debt and Economic Growth in an Ageing Japan; T.Tomita Medium-term Strategies for Long-term Goals; H.J.Aaron Comments on 'Medium-term Strategies for Long-term Goals'; H.Ishi Comments on 'Medium-term Strategies for Long-term Goals'; K.N.Kuttner Fiscal Decentralization in Japan: Does It Harden the Budgets of Local Governments? E.Tajika & Y.Yui Comments on 'Fiscal Decentralization in Japan: Does It Harden the Budgets of Local Governments?'; D.Citrin Comments on 'Fiscal Decentralization in Japan: Does It Harden the Budgets of Local Governments?'; M.Hayashi Managing Public Costs in the Japanese Health and Nursing Care Sector; Y.Imai & H.Oxley Managing Social Costs: Challenges in Creating a Cohesive System for Health Care, Pensions, and the Needs of the Elderly; K.Kaizuka Avoiding a Fiscal/Demographic/Economic Debacle in Japan; L.J.Kotlikoff Comments on 'Managing Public Costs in the Japanese Health and Nursing Care Sector', 'Managing Social Costs: Challenges in Creating a Cohesive System for Health Care, Pensions, and the Needs of the Elderly' and 'Avoiding a Fiscal/Demographic/Economic Debacle in Japan'; P.S.Heller Comments on 'Managing Public Costs in the Japanese Health and Nursing Care Sector', 'Managing Social Costs: Challenges in Creating a Cohesive System for Health Care, Pensions, and the Needs of the Elderly' and 'Avoiding a Fiscal/Demographic/Economic Debacle in Japan'; Y.Iwamoto Concluding Remarks; A.O.Krueger

About the Author :
KEIMEI KAIZUKA is Honorary President of the Policy Research Institute, Ministry of Finance, Japan. He is also Professor Emeritus at Chuo University and at the University of Tokyo, and has held advisory positions in several financial institutions. He received his PhD in Economics from the University of Tokyo. ANNE O. KRUEGER is First Deputy Managing Director of the International Monetary Fund. Before joining the IMF, she was the Herald L. and Caroline L. Ritch Professor in Humanities and Sciences in the Department of Economics at Stanford University. She was also the founding Director of Stanford's Centre for Research on Economic Development and Policy Reform; and a Senior Fellow of the Hoover Institution. She had previously taught at the University of Minnesota and Duke University and, from 1982 to 1986, was the World Bank's Vice President for Economics and Research.