This working paper presents the background and the details of the simulations behind Box 1.4 of the May 2013 OECD Economic Outlook. A small simulation model is used to evaluate the contribution that the three pillars of the government’s strategy – fiscal consolidation, growth-boosting structural reforms and higher inflation – could make to reversing the rise in Japan’s public debt ratio.
The 2011 disaster and nuclear problems opened the door to a new energy policy, as they raised fundamental questions about the electricity system’s ability to prevent and respond to accidents.
Education at a Glance 2013 - Country notes and key fact tables
The problems of Japanese agriculture – in particular low productivity and the prevalence of part-time farmers and small plots have been evident for the past 50 years.
With gross government debt surpassing 200% of GDP, Japan’s fiscal situation is in uncharted territory. In addition to robust nominal GDP growth, correcting two decades of budget deficits requires a large and sustained fiscal consolidation based on a detailed and credible multi-year plan that includes measures to control spending and raise revenue.
Cities can generate growth and jobs while becoming greener – this is the message of the OECD’s new Green Growth in Cities report. Drawing on case studies of Paris, Chicago, Kitakyushu and Stockholm, the report identifies green policies that can respond to urban growth priorities and suggests how to implement and finance them.
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This brochure highlights the Japan's key challenges which are to achieve sustained growth and fiscal sustainability. The three-pronged strategy combining bold monetary policy, flexible fiscal policy and a growth strategy should be effectively implemented to realise these goals.
The new government’s resolve to revitalise the economy through a three-pronged strategy, combining bold monetary policy, flexible fiscal policy and a growth strategy is most encouraging, said OECD Secretary-General.