01787cas a2200253 a 4500 AALejournalIMF001671 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855289 1018-5941 BD-DhAAL BD-DhAAL Callen, Tim. Policies and Prospects in Japan and the Implications for the Asia-Pacific Region / Tim Callen, Warwick McKibbin. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (57 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper uses the G-Cubed (Asia-Pacific) model-a macroeconomic model with rich cross-country links-to explore the implications for Japan and Asia of several shocks to the Japanese economy. The results suggest that, while fiscal consolidation in Japan would initially dampen domestic growth, over the medium term the impact on both the domestic and regional economies would be positive. Quantitative monetary easing in Japan would boost domestic activity in the short-run, while being basically neutral for the region. Finally, a loss of confidence in the yen would be negative for Japan, but positive for the region because of a reallocation of capital flows toward non-Japan Asia. Mode of access: Internet McKibbin, Warwick. IMF Working Papers; Working Paper ; No. 2001/131 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/131/001.2001.issue-131-en.xml IMF e-Library