Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/115310
Authors: 
Yoshino, Naoyuki
Taghizadeh-Hesary, Farhad
Year of Publication: 
2014
Series/Report no.: 
ADBI Working Paper Series 492
Abstract: 
"Abenomics" refers to the economic policies advocated by Prime Minister Shinzo Abe who became prime minister of Japan for a second time when his party, the Liberal Democratic Party, won an overwhelming majority at the general election in December 2012. Abenomics has "three arrows": (i) aggressive monetary policy, (ii) fiscal consolidation, and (iii) growth strategy. The Japanese economy faces an aging population and expanding social welfare expenses. No other country has experienced Japan's rapid growth of retired people. In this paper we will explain these three aspects of Abenomics and the current state of the Japanese economy, and examine what further remedies may be required if Japan is to recover from its long-term deflation. We look at such proposals as hometown investment trust funds and postponing of the retirement age through the introduction of a flexible wage rate system.
JEL: 
E52
E62
G21
Document Type: 
Working Paper

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