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This note, taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2006, contains information about the progress in implementing reforms in line with the 2005 priorities for Japan. In addition to passing of legislation or other decisions to implement reforms, the note records earlier stages of reform, such as government announcements and draft legislation presented to parliaments.
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Using overlapping generations (OLG) models calibrated on 7 OECD countries - the United States, Japan, France, Canada, Italy, the United Kingdom and Sweden - the authors investigate the macroeconomic impact of possible pension reform strategies as populations age.
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Some recent research suggests that the "risk premium" may be important in the determination of exchange rates. OECD Economic Studies No. 9.