Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The paper develops a general equilibrium framework to examine the economic implications of population aging in Japan. Particular attention is paid to aggregate saving behavior which is modeled on the basis of empirical age-earnings profiles using a life-cycle approach. The paper's objectives are to (i) estimate the output loss caused by demographic changes and assess the impact of aging on Japan's government finances; and (ii) compare fiscal policy options with respect to their effects on output growth and economic welfare. The paper develops a general equilibrium framework to examine the economic implications of population aging in Japan. Particular attention is paid to aggregate saving behavior which is modeled on the basis of empirical age-earnings profiles using a life-cycle approach. The paper's objectives are to (i) estimate the output loss caused by demographic changes and assess the impact of aging on Japan's government finances; and (ii) compare fiscal policy options with respect to their effects on output growth and economic welfare. The paper develops a general equilibrium framework to examine the economic implications of population aging in Japan. Particular attention is paid to aggregate saving behavior which is modeled on the basis of empirical age-earnings profiles using a life-cycle approach. The paper's objectives are to (i) estimate the output loss caused by demographic changes and assess the impact of aging on Japan's government finances; and (ii) compare fiscal policy options with respect to their effects on output growth and economic welfare.

Investments: General --- Labor --- Demography --- Computable and Other Applied General Equilibrium Models --- Macroeconomics: Consumption --- Saving --- Wealth --- Forecasting and Simulation: Models and Applications --- Fiscal Policy --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Demographic Economics: General --- Demographic Trends, Macroeconomic Effects, and Forecasts --- Wages, Compensation, and Labor Costs: General --- General Financial Markets: General (includes Measurement and Data) --- Population & demography --- Labour --- income economics --- Investment & securities --- Aging --- Population and demographics --- Demographic change --- Wages --- Securities --- Financial institutions --- Population aging --- Population --- Demographic transition --- Financial instruments --- Japan

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate different policy simulations to illustrate some of the key issues in the debate on the speed and sequencing of reforms, and not to provide a basis for policy recommendations for China. The simulations highlight the importance of the criteria being used for determining speed and sequencing. The paper also underscores the limitations involved in attempting to derive conclusions from the model, given the complexity of the issues.

Budgeting --- Exports and Imports --- Macroeconomics --- Computable and Other Applied General Equilibrium Models --- Socialist Systems and Transitional Economies: Planning, Coordination, and Reform --- Comparison of Public and Private Enterprises and Nonprofit Institutions --- Privatization --- Contracting Out --- Current Account Adjustment --- Short-term Capital Movements --- Labor Economics: General --- National Budget --- Budget Systems --- Nonprofit Organizations and Public Enterprise: General --- Public Enterprises --- Public-Private Enterprises --- International economics --- Labour --- income economics --- Budgeting & financial management --- Public ownership --- nationalization --- Civil service & public sector --- Current account --- Labor --- Budget planning and preparation --- Public enterprises --- Economic sectors --- Balance of payments --- Public sector --- Labor economics --- Budget --- Government business enterprises --- Finance, Public --- China, People's Republic of