03248nam 2200613Ia 450 991080818110332120200520144314.01-4755-3530-91-4755-8843-7(CKB)2670000000278817(EBL)1606907(SSID)ssj0000940785(PQKBManifestationID)11499075(PQKBTitleCode)TC0000940785(PQKBWorkID)10963534(PQKB)10859937(MiAaPQ)EBC1606907(Au-PeEL)EBL1606907(CaPaEBR)ebr10627038(OCoLC)803657507(IMF)WPIEE2012197(IMF)WPIEA2012197(EXLCZ)99267000000027881720111102d2012 uy 0engur|n|---|||||txtccrIntergenerational implications of fiscal consolidation in Japan /prepared by Kiichi Tokuoka1st ed.Washington, DC International Monetary Fund20121 online resource (26 p.)IMF working paper ;12/197Description based upon print version of record.1-4755-2283-5 1-4755-0547-7 Includes bibliographical references.Cover; Contents; I. Introduction; II. Simulation Analysis and Discussion; Figures; 1. Overview of Japan's Public Finances; 2. Intergenerational Resource Imbalance; 3. Macroeconomic Implications of Fiscal Consolidation; Tables; 1. Summary of Measures; 2. Two Options for Structural Fiscal Adjustment; 4. Resource Implications of Fiscal Adjustment; 5. Costs of Delaying Fiscal Adjustment; III. Other Issues; IV. Conclusions; Box; 1. Public Pension System in Japan; References; Appendix; I. Parameter Values and Key Simulation AssumptionsIn Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse than existing policy would suggest. However, this does not mean that fiscal consolidation would make the young worse off. Lack of fiscal consolidation would eventually increase interest rates, which would reduce output and hit young generations harder. Simulations using an overlapping generations model indicate that, from the perspective of intergenerational fairness, it would be desirable to include both social security spending reforms and revenue measures in a fiscal consolidation package. The simulations also show that delaying fiscal consolidation could be costly and worsen intergenerational resource inequality.IMF Working Papers; Working Paper ;No. 2012/197Fiscal policyJapanIntergenerational relationsEconomic aspectsJapanFiscal policyIntergenerational relationsEconomic aspects332.1/52Tokuoka Kiichi1649141MiAaPQMiAaPQMiAaPQBOOK9910808181103321Intergenerational Implications of Fiscal Consolidation in Japan3997721UNINA