@techreport{NBERw11374,
 title = "Fiscal Remedies for Japan's Slump",
 author = "Laurence Ball",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "11374",
 year = "2005",
 month = "May",
 URL = "http://www.nber.org/papers/w11374",
 abstract = {This paper asks how a fiscal expansion would affect Japan. It uses a textbook-style macro model calibrated to fit the Japanese economy. According to the results, Japan%u2019s output slump would be ended by a fiscal transfer of 6.6% of GDP. This policy raises the debt-income ratio in the short run, but it reduces this ratio in the long run through higher inflation and tax revenue.  The financing of the transfer -- bonds or money -- affects debt in the short run but not the long run.},
}