LEADER 05530oam 22012734 450 001 9910786482303321 005 20230801225348.0 010 $a1-4755-3530-9 010 $a1-4755-8843-7 035 $a(CKB)2670000000278817 035 $a(EBL)1606907 035 $a(SSID)ssj0000940785 035 $a(PQKBManifestationID)11499075 035 $a(PQKBTitleCode)TC0000940785 035 $a(PQKBWorkID)10963534 035 $a(PQKB)10859937 035 $a(MiAaPQ)EBC1606907 035 $a(Au-PeEL)EBL1606907 035 $a(CaPaEBR)ebr10627038 035 $a(OCoLC)803657507 035 $a(IMF)WPIEE2012197 035 $a(IMF)WPIEA2012197 035 $a(EXLCZ)992670000000278817 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aIntergenerational Implications of Fiscal Consolidation in Japan /$fKiichi Tokuoka 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (26 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4755-2283-5 311 $a1-4755-0547-7 320 $aIncludes bibliographical references. 327 $aCover; 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 Assumptions 330 3 $aIn Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse than existing policy would suggest. However, this does not mean that fiscal consolidation would make the young worse off. Lack of fiscal consolidation would eventually increase interest rates, which would reduce output and hit young generations harder. Simulations using an overlapping generations model indicate that, from the perspective of intergenerational fairness, it would be desirable to include both social security spending reforms and revenue measures in a fiscal consolidation package. The simulations also show that delaying fiscal consolidation could be costly and worsen intergenerational resource inequality. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/197 606 $aFiscal policy$zJapan 606 $aIntergenerational relations$xEconomic aspects$zJapan 606 $aInvestments: General$2imf 606 $aLabor$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aDemography$2imf 606 $aFiscal Policy$2imf 606 $aTaxation and Subsidies: Externalities$2imf 606 $aRedistributive Effects$2imf 606 $aEnvironmental Taxes and Subsidies$2imf 606 $aSocial Security and Public Pensions$2imf 606 $aNonwage Labor Costs and Benefits$2imf 606 $aPrivate Pensions$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aEconomics of the Elderly$2imf 606 $aEconomics of the Handicapped$2imf 606 $aNon-labor Market Discrimination$2imf 606 $aPensions$2imf 606 $aInvestment & securities$2imf 606 $aPopulation & demography$2imf 606 $aFiscal consolidation$2imf 606 $aPension spending$2imf 606 $aSecurities$2imf 606 $aAging$2imf 606 $aFiscal policy$2imf 606 $aExpenditure$2imf 606 $aFinancial institutions$2imf 606 $aPopulation and demographics$2imf 606 $aFinancial instruments$2imf 606 $aPopulation aging$2imf 607 $aJapan$2imf 615 0$aFiscal policy 615 0$aIntergenerational relations$xEconomic aspects 615 7$aInvestments: General 615 7$aLabor 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aDemography 615 7$aFiscal Policy 615 7$aTaxation and Subsidies: Externalities 615 7$aRedistributive Effects 615 7$aEnvironmental Taxes and Subsidies 615 7$aSocial Security and Public Pensions 615 7$aNonwage Labor Costs and Benefits 615 7$aPrivate Pensions 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aEconomics of the Elderly 615 7$aEconomics of the Handicapped 615 7$aNon-labor Market Discrimination 615 7$aPensions 615 7$aInvestment & securities 615 7$aPopulation & demography 615 7$aFiscal consolidation 615 7$aPension spending 615 7$aSecurities 615 7$aAging 615 7$aFiscal policy 615 7$aExpenditure 615 7$aFinancial institutions 615 7$aPopulation and demographics 615 7$aFinancial instruments 615 7$aPopulation aging 700 $aTokuoka$b Kiichi$01476613 801 0$bDcWaIMF 906 $aBOOK 912 $a9910786482303321 996 $aIntergenerational Implications of Fiscal Consolidation in Japan$93858210 997 $aUNINA