| Description |
1 online resource (27 pages) : illustrations (some color) |
| Series |
IMF working paper ; WP/16/156 |
|
IMF working paper ; WP/16/156.
|
| Contents |
Cover; Contents; I. What Are Independent Fiscal Institutions? What is Their Origin? Are They Effective?; A. Definition, Basic Mandate; B. Origins, Rationale; C. Effectiveness; II. Fiscal Policy in Japan; A. Challenging Trends; B. Fitful Policymaking; C. Opacity and Uncertainty; III. International Overview; A. Statutes and Structure; B. Remit; IV. Design Options for Japan; V. Summary and Conclusion; Tables; 1. Advanced Economies: Statutes and Structure of Independent Fiscal Institutions; 2. Advanced Economies: Functions of Independent Fiscal Institutions; Figures |
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1. General Government Balance and Output Gap, 2000-152. Selected Advanced Economies: Average Forecast Errors for General Government Balance, 2000-13; 3. Selected Advanced Economies: Average Forecast Errors for General Government Debt, 2000-13; References |
| Summary |
In response to the recent financial crisis and the ensuing buildup in public indebtedness, an increasing number of advanced economies have created independent fiscal institutions (IFIs) to improve the quality of public finances and to strengthen the credibility of government policy. A review of Japan's fiscal policymaking over the past decades suggests that Japan would greatly benefit from establishing an IFI in line with internationally accepted standards of good practice. Such an institution could help correct critical weaknesses in policymaking and anchor expectations, especially if introduced as part of a fiscal framework with a medium-term perspective |
| Notes |
"August 2016." |
|
At head of title: International Monetary Fund, Asia and Pacific Department |
| Bibliography |
Includes bibliographical references (pages 24-26) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed September 19, 2016) |
| Subject |
Financial institutions -- Japan
|
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Debts, Public -- Japan
|
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Fiscal policy -- Japan
|
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Debts, Public.
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Financial institutions.
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Fiscal policy.
|
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Japan.
|
| Form |
Electronic book
|
| Author |
International Monetary Fund, publisher.
|
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International Monetary Fund. Asia and Pacific Department, issuing body.
|
| ISBN |
9781475522686 |
|
1475522681 |
|
