Titlebook: Japan‘s Economic Revival; Policy Challenges in Daniel A. Citrin,Alessandro Zanello Book 2008 Palgrave Macmillan, a division of Macmillan Pu

挫败

CORD

阻挡

Japan’s Potential Output and Productivity Growthructural adjustments to the imbalances of the “bubble” years have strengthened fundamentals. At the same time, an aging population complicates the challenge of ensuring strong self-sustaining growth. With Japan’s birth rate well below the population’s replacement rate, the working-age population in

engagement

Household Savings in Japaneclined from 18 percent in 1981 to 6 percent in 2002 with a brief pause during the bubble years. This drop has prompted discussions about the prospective evolution of Japanese savings and Japan’s long-term growth prospects in the context of a rapidly aging population.

harrow

Strategies for Fiscal Consolidation debt to over 85 percent of GDP, one of the highest in the Organization for Economic Cooperation and Development (OECD) (Figure 4.1). In the years ahead, rising health and elderly care costs will add strain to public resources. The Cabinet Office estimates that in the absence of further policy adjus

Ingratiate

Pension Reform Issuesongest life expectancy and one of the lowest birth rates in the world, and immigrants constitute a very small proportion of the population. Japan’s National Institute of Population and Social Security Research (NIPSSR) projects that the nation’s population will decline by half between 2006 and 2100.

habile

Chameleon

habitat

Home Bias in Japanth individual and institutional. This home bias has declined markedly in the past decade by some measures, but remains higher than average for mature market countries. To the extent that a strong revealed preference for domestic assets in Japan results in a suboptimal allocation of financial assets,

煤渣

Recent Developments and Outlook for Japan’s Capital Flowse holdings have been largely concentrated in debt securities, consistent with a widening of interest rate differentials, low market volatilities, and a generally conservative approach to investing. Households are also purchasing an increasing amount of equities in search of higher yield. Meanwhile,