01879cas a2200241 a 4500 AALejournalIMF012059 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475505474 1018-5941 BD-DhAAL BD-DhAAL Tokuoka, Kiichi. Intergenerational Implications of Fiscal Consolidation in Japan / Kiichi Tokuoka. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (25 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 In Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse than existing policy would suggest. However, this does not mean that fiscal consolidation would make the young worse off. Lack of fiscal consolidation would eventually increase interest rates, which would reduce output and hit young generations harder. Simulations using an overlapping generations model indicate that, from the perspective of intergenerational fairness, it would be desirable to include both social security spending reforms and revenue measures in a fiscal consolidation package. The simulations also show that delaying fiscal consolidation could be costly and worsen intergenerational resource inequality. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2012/197 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/197/001.2012.issue-197-en.xml IMF e-Library