In this paper, we investigate the effects of housing-related tax policy measures on macroeconomic aggregates using a …-occupied housing. Using our model, we analyze the effects of changes in housing-related tax policy measures on the level of output, tax … revenue and household debt, along with other macroeconomic aggregates. The tax policies we consider are (i) increasing …

Tax reform is an urgent priority, as Japan needs as much as 5% to 6% of GDP of additional government revenue just to … stabilise public debt, which has risen to 180% of GDP. In addition to raising revenue, tax reform should promote economic growth …, address the deterioration in income distribution and improve the local tax system. Additional revenue should be obtained …

The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition - either tax …

lead to higher credit multipliers at all horizons, as the benefits of persistently alleviating firms' borrowing constraint …

small response of private consumption to increased government spending. The multipliers for labor and capital tax on impact … are 0.13 and 0.33, respectively. The effects of tax cuts, on the other hand, take time to build, and exceed the … stimulative effects of higher spending at horizons of 12-20 quarters. The expansionary effects of tax cuts are primarily driven by …