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This paper compiles and reviews the evolution of Japan's Public Sector Balance Sheet (PSBS). In the past, large crossholdings of assets and liabilities within the public sector played a role in sustaining a high level of public debt and low interest rates. The Fiscal Investment and Loan Fund...
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funds are raised from the household rather than the real sector, and may increase with a reduction in financial …
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stimulating household spending due to a combination of collateral and wealth effects. The magnitude of these effects on a given … household depends on local housing market characteristics such as local geography and regulation. Cities with the largest … indicates a strong role for collateral effects, as opposed to pure wealth effects, in driving the relationship between home …
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funds are raised from the household rather than the real sector, and may increase with a reduction in financial …
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