5 posts on "Japan"
November 9, 2022
A Closer Look at Chinese Overseas Lending
While considerable attention has focused on China’s credit boom and the rise of China’s domestic debt levels, another important development in international finance has been growth in China’s lending abroad. In this post, we summarize what is known about the size and scope of China’s external lending, discuss the incentives that drove this lending, and consider some of the challenges these exposures pose for Chinese lenders and foreign borrowers.
April 14, 2021
What Is behind the Global Jump in Personal Saving during the Pandemic?
Household saving has soared in the United States and other high-income countries during the COVID-19 pandemic, despite widespread declines in wages and other private income streams. This post highlights the role of fiscal policy in driving the saving boom, through stepped-up social benefits and other income support measures. Indeed, in the United States, Japan, and Canada, government assistance has pushed household income above its pre-pandemic trajectory. We argue that the larger scale of government assistance in these countries helps explain why saving in these countries has risen more strongly than in the euro area. Going forward, how freely households spend out of their newly accumulated savings will be a key factor determining the strength of economic recoveries.
November 14, 2016
Inflation and Japan’s Ever‑Tightening Labor Market
Japan offers a preview of future U.S. demographic trends, having already seen a large increase in the population over 65.
Posted at 7:00 am in International Economics, Labor Market, Macroeconomics, Unemployment | Permalink | Comments (2)
June 22, 2016
The Rapidly Changing Nature of Japan’s Public Debt
Japan’s general government debt-to-GDP ratio is the highest of advanced economies, due in part to increased spending on social services for an aging population and a level of GDP that has not increased for two decades.
Posted at 7:00 am in Bank Capital, Exchange Rates, Fiscal Policy, Monetary Policy | Permalink | Comments (6)
April 22, 2013
Japanese Inflation Expectations, Revisited
An important measure of success for monetary policy is a central bank’s ability to anchor inflation expectations; inflation expectations influence actual inflation and, hence, the achievement of a given inflation goal.
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