Sustainability Problem

Are Japanese Government Bonds sustainable?
  • Toshihiro Ihori
  • Takero Doi
Chapter
Part of the Research Monographs in Japan-U.S. Business & Economics book series (JUSB, volume 7)

Abstract

In the 1990s we have experienced a rapid increase in fiscal deficits. In the 1990s public spending and transfer payments have been gradually raised due to political pressure from interest groups, resulting in large budget deficits. The question of whether Japan’s fiscal policy is sustainable, in the sense of being consistent with an intertemporal budget constraint, has long been a concern.

Keywords

Fiscal Policy Discount Factor Real Interest Rate Government Bond Transfer Payment 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2002

Authors and Affiliations

  • Toshihiro Ihori
  • Takero Doi

There are no affiliations available

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