02092cas a2200253 a 4500 AALejournalIMF018866 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484384732 1018-5941 BD-DhAAL BD-DhAAL Colacelli, Mariana. Macroeconomic Effects of Japan's Demographics : Can Structural Reforms Reverse Them? / Mariana Colacelli, Emilio Fernandez Corugedo. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (44 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 Yes, partly. This paper studies the potential role of structural reforms in improving Japan's outlook using the IMF's Global Integrated Monetary and Fiscal Model (GIMF) with newly-added demographic features. Implementation of a not-fully-believed path of structural reforms can significantly offset the adverse effect of Japan's demographic headwinds - a declining and ageing population - on real GDP (by about 15 percent in the next 40 years), but would not boost inflation or contribute substantially to stabilizing public debt. Alternatively, implementation of a fully-credible structural reform program can contribute significantly to stabilizing public debt because of the resulting increase in inflation towards the Bank of Japan's target, while achieving the same positive long-run effects on real GDP. If no reforms are implemented, severe demographic headwinds are expected to reduce Japan's real GDP by over 25 percent in the next 40 years. Mode of access: Internet Corugedo, Emilio Fernandez. IMF Working Papers; Working Paper ; No. 2018/248 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/248/001.2018.issue-248-en.xml IMF e-Library