01683cas a2200241 a 4500 AALejournalIMF017146 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475541649 1018-5941 BD-DhAAL BD-DhAAL Saito, Ikuo. Fading Ricardian Equivalence in Ageing Japan / Ikuo Saito. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (18 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 Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility that an increasing number of households are liquidity constrained. If these developments continue, the impact of fiscal policy on the economy will gradually rise. While this will facilitate using fiscal policy to manage the economic cycle, it also calls for starting fiscal consolidation soon and in a gradual and steady manner, given the unsustainable public debt and the likely increasing challenges in funding the government's rising debt domestically. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2016/194 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/194/001.2016.issue-194-en.xml IMF e-Library