The Pension Reform 2004 in Japan has fixed the schedule of contribution hike until 2017 and incorporated a, mechanism of maintaining the financial sustainability of pension funds to some extent. However, there still, remain a lot of problems including unequal burden-sharing, unqualified...

The 1990s saw an era of fiscal consolidation in industrialised countries, which struggled with fiscal deficits throughout the 1970s and 1980s. Reforms in public expenditure management, typically the introduction of fiscal rules and targets, together with favourable economic growth contributed to...

The macroeconomic policy in Japan in the 1990s swung from fiscal expansion to fiscal consolidation and conversely. The efforts to restore soundness of public finance culminated in the Fiscal Structural Reform Act of 1997, which articulated several fiscal targets in the medium-term perspective....