Japan: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 254

Publication date: July 2008

ISBN: 9781451820713

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Labor , Money and Monetary Policy , Public Finance , Demography , ISCR , CR , wage , pension , Japan , bank , social security , wage growth , conditioning pension right , earnings-age profile , wage-productivity gap , wage system , Labor share , Pension spending , Wages , Pensions , Employment , Global , Europe , Eastern Europe

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Summary

This Selected Issues paper discusses the impact of global financial turmoil on Japan. It describes how close integration in global financial markets has deepened and expanded the channels for spillovers. The paper discusses options for increasing the consumption tax to finance the public pension system. It explains that while parametric reforms have reduced fiscal pressures, the basic pension is becoming a less adequate safety net for the retired. The paper also attempts to explain the declining share of labor income.