Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective
---- Acknowledgments ----
The authors thank Richard Rogerson, Nao Sudo and various seminar and conference participants for their comments and suggestions. In addition, we are grateful for invaluable support from the Institute for Monetary and Economic Studies, Bank of Japan, where we visited when beginning this project. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.