TY - BOOK ID - 138995075 TI - Fading Ricardian Equivalence in Ageing Japan PY - 2016 SN - 1475541732 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Ricardian Model of International Trade. KW - Fiscal policy KW - Japan KW - Commerce. KW - Finance: General KW - Public Finance KW - Taxation KW - Demography KW - Macroeconomics: Consumption KW - Saving KW - Wealth KW - Fiscal Policy KW - Fiscal Policies and Behavior of Economic Agents: Household KW - Debt KW - Debt Management KW - Sovereign Debt KW - Portfolio Choice KW - Investment Decisions KW - Business Taxes and Subsidies KW - Economics of the Elderly KW - Economics of the Handicapped KW - Non-labor Market Discrimination KW - Public finance & taxation KW - Finance KW - Macroeconomics KW - Population & demography KW - Liquidity KW - Consumption taxes KW - Public debt KW - Aging KW - Taxes KW - Asset and liability management KW - Population and demographics KW - Economics KW - Spendings tax KW - Debts, Public KW - Population aging UR - https://www.unicat.be/uniCat?func=search&query=sysid:138995075 AB - Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility that an increasing number of households are liquidity constrained. If these developments continue, the impact of fiscal policy on the economy will gradually rise. While this will facilitate using fiscal policy to manage the economic cycle, it also calls for starting fiscal consolidation soon and in a gradual and steady manner, given the unsustainable public debt and the likely increasing challenges in funding the government's rising debt domestically. ER -