Description
This book focuses on Japan’s recent recovery from a decade-long stagnation, with particular attention to the unfinished policy agenda and the international spillovers of Japan’s policies, through background studies (both analytical and descriptive) by IMF economists. Edited By Daniel A. Citrin and Alessandro Zanello Foreword; J.Lipsky Acknowledgements Overview; D.A.Citrin and A.Zanello PART I: GROWTH AND DEMOGRAPHICS Japan’s Potential Output and Productivity Growth; P.N’Diaye Household Savings in Japan; H.Edison PART II: FISCAL POLICY CHALLENGES Strategies for Fiscal Consolidation; D.Botman, H.Edison and P.N’Diaye Tax Policy Challenges from Globalization and Aging: Issues and Options; M.Keen Pension Reform Issues; D.Iakova PART III: MONETARY POLICY AFTER DEFLATION A Post-Deflation Monetary Framework; C.Kramer and M.Stone Practical Issues Surrounding the New Understanding of Price Stability; C.Faulkner-MacDonagh PART IV: THE RISE IN CROSS-BORDER CAPITAL FLOWS Home Bias in Japan; W.C.Walker Recent Developments and Outlook for Japan’s Capital Flows; S.Nakagawa and C.Faulkner-MacDonagh PART V: CHALLENGES FOR THE BANKING SECTOR Why is Japanese Banking Sector Profitability so Low?; A.Wolfson The Reemergence of Japanese Banks in Asia; S.Nakagawa PART VI: STRUCTURAL REFORMS Priorities for Structural Reform; Y.Khatri Agricultural Policies in Japan: Domestic and International Repercussions; B.McDonald PART VII: INTERNATIONAL SPILLOVERS The Domestic and Global Impact of Japan’s Policies for Growth; N.Batini, P.N’Diaye and A.Rebucci Capital Flows and the Yen-U.S. Dollar Exchange Rate; P.N’Diaye
