The effectiveness of fiscal policy in Japan over the past decade has been a matter of great controversy. We investigate the effectiveness of Japanese fiscal policy over the 1976-1999 period using a structural VAR analysis of real GDP, tax revenues, and public expenditures. We find that...

No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those who see the euro as the advent of a newly open, large, and efficient regime which will lead to improvements in European and in particular in German competitiveness; those who...

Implications of low productivity growth for debt sustainability / by Neil Mehrotra -- Slow productivity growth will pressure sovereign debt sustainability / by Elena Duggar -- Implications for tax policy of lower trend productivity growth / by Karen Dynan -- The effects of low productivity...

No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those who see the euro as the advent of a newly open, large, and efficient regime which will lead to improvements in European and in particular German competitiveness; those who see...