This paper considers a range of issues affecting Japan's contemporary economic well-being. Japan has continued toward sustained, full-employment growth, though its path has been idiosyncratic and its pace has been erratic. GDP growth in 2006 was a respectable 2.2 percent, driven by business...

Increased global demand for energy and other resources, particularly from the rapidly developing economies of China and India and the opening up of global resource markets to global investors and speculative activity, has resulted in considerable recent turbulence in resource prices. The recent...

All proposals and policy measures in the forthcoming Budget may best be summed up as efforts to improve the sustainability of growth. Specific objectives are likely to be lowering inflation and deficits - fiscal and current account. While no major overhaul of taxes are expected, if the...

Review consists of three sections: I. Assessment of Macroeconomic and Monetary Developments; II. Stance of Monetary Policy; and III. Monetary Measures. An analytical profile of macroeconomic and monetary developments was issued a day in advance as a supplement to this Review, providing the...

Use of Macroeconometric models has by now assumed a measure of universality as an unavoidable aid to forecasting and policy analysis; challenges and controversies spread over more than two decades notwithstanding.1 While such models are typically designed and utilised for dealing with short term...