This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies … magnitude of shock smoothing increases from an average of 2 percent to 3-31/2 percent following the reform. The effects are … symmetric-that is, the increase in shock smoothing following a reform expanding the tax base (rate) is similar to the decline in …

This paper explores how corporate income tax reform can help Japan increase investment and boost potential growth …. Using international and Japan-specific empirical estimates of corporate tax elasticities, investment is predicted to expand … and 30 percent of the static revenue loss could be recovered in the long run through dynamic scoring, although Japan …

This paper conducts micro-simulations to study the distributional effects of several tax measures in Japan, considering …

The recent financial crisis highlighted that balance sheet exposures can be a major shock transmission channel. Using … financial instruments within and across G-4 economies (Euro Area, Japan, U.K. and U.S.). The generated financial networks … exposures in loans and equities have declined. Shock simulations reveal that the vulnerability of the financial sector to the …

This paper uses a vector autoregression (VAR) approach to identify the driving forces of the growth slowdown in Japan … not support the counterfactual conjecture that activity in Japan would have been significantly weaker in the absence of …