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- Title
Japan.
- Abstract
The article presents the economic outlook for Japan for the period 2007 to 2008. In 2007, the authors anticipate slightly above-potential growth of 2.4%, falling back to 2.2% in 2008. They also expect the tightening of the labor market to gradually feed into wage growth, which is expected to accelerate slowly and post modest positive growth rates of 1% to 2% per year. It is noted that a possible reason for the decline of the consumer price index (CPI) is a possible sales tax hike. The government of Prime Minister Shinzo Abe is seen to continue the fiscal consolidation policy which is expected to include an increase in Value Added Tax (VAT), which could be approved by the government in early 2008.
- Subjects
JAPAN; ECONOMIC conditions in Japan, 1989-; LABOR market; ABE, Shinzo, 1954-2022; CONSUMER price indexes; SALES tax
- Publication
Economic Outlook, 2007, Vol 31, Issue 3, p42
- ISSN
0140-489X
- Publication type
Article
- DOI
10.1111/j.1468-0319.2007.00616.x