There are various underlying reasons why social security expenditures grow faster than the economy: e.g., per-capita healthcare expenditures grow faster than per-capita GDP (mainly caused by an increase of medical costs to attain more sophisticated treatments which reflect technological...

In this paper, we discuss the structure of a forward-looking model of the Japanese economy, which has been jointly developed by the Institute of Economic Research, Kyoto University, and the Policy Research Institute, Ministry of Finance, and use the model to simulate policies for fiscal...

At the outset of this analysis of fiscal sustainability in Japan, we first reviewed the methodologies adopted in previous studies. Taking FY2009 as our starting point, we developed a long-term estimate of fiscal conditions based on the economic and demographic assumptions in the study of pension...