This paper backtests a nowcast of Japan's real GDP growth. Its distinguishing features are use of genuine real …

decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact … rate is shown to contribute to a higher aggregate saving rate in Japan compared to the U.S. However, the contribution of … Japan. Finally, tax reform concerning the tax deductibility of mortgage interest payments or the tax exempt status of …