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One of the biggest political issues in Japan is an increase in the rate of value added tax (VAT). In this paper, we … evaluate its impact on household expenditure, using Japans April 1997 VAT rate increase from three to five percent as a case … has the potential to induce an income effects on household consumption. Based on monthly household expenditure data, we …
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Using the Japanese Study of Aging and Retirement (JSTAR), a Japanese panel survey of people age 50 or older, we find that many Japanese in their early 50scompared to those in their late 50s and early 60sexpect their level of public pension benefits to decline. We find that recent pension reform...
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