Health spending has risen rapidly in Japan. We find two-thirds of the spending increase over 1990–2011 resulted from … increase of 2–3 percentage points of GDP. This will require a sizable increase in government transfers. Japan can introduce …

This paper examines how Japan’s long-term interest rates and Japanese banks’ interest rate risk exposures may evolve … yields in Japan are determined to a large extent by growth and inflation outlook, fiscal conditions, demography, and the … increased purchases by the Bank of Japan. At the same time, illustrative scenarios suggest the interest rate risk exposure of …

effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and …