Imrohoroglu, Selahattin; Sudo, Nao - In: Monetary and Economic Studies 29 (2011) November, pp. 73-106
Japan is facing severe fiscal challenges. The aging of the population is projected to raise total pension and health expenditures. There is already a huge debt to output ratio, which is the highest among the advanced economies. In this paper we ask, gIf the consumption tax rate is raised to 15...
