Discuss Japan-Japan Foreign Policy Forum

“Japanese‘Armitage-Nye Report’Launched” (August 2, 2017)

Tanaka Akihiko, President, National Graduate Institute for Policy Studies (GRIPS)

Will Fiscal Reconstruction Advance? (Mar. 25, 2020)

SATO Motohiro, Graduate School of Economics, School of International and Public Policy, Hitotsubashi University

COVID-19 Pandemic and the Economy: Need Sound Public Finance for Maintaining Social Safety-Net NEW

Nobuhiro Kiyotaki, Professor of Economics, Princeton University   Key points Should corporate bankruptcies increase, credit crunch may follow Postponing retirement is more effective than high inflation for fiscal consolidation Promoting open economy is important for growth after the containment of COVID-19   Following COVID-19 pandemic and government restrictions on social and economic activities, the global economy plunged into the deepest recession of the postwar era and the lives of people have been affected profoundly. This article discusses the impact of the COVID-19 pandemic, policy responses and the future direction from a macro-economic perspective. The COVID-19 pandemic makes it difficult to engage in activities that involve social contact and possibility of infection. Consumption, especially services consumption in restaurants, leisure and hospitality, has decreased significantly. Let us look at consumption and employment in the United States by referring to data collected by Professor Raj Chetty of ... [Read more]