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Social Science > Demography

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
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Cover IMF Working Papers
Preferences for Reforms: Endowments vs. Beliefs
Mr. Romain A Duval
,
Yi Ji
,
Mr. Chris Papageorgiou
,
Mr. Ippei Shibata
, and
Mr. Antonio Spilimbergo
Are preferences for reforms driven by individuals’ own endowments or beliefs? To address this question, we conducted a cross-country survey on people’s opinions on employment protection legislation—an area where reform has proven to be difficult and personal interests are at stake. We find that individuals’ beliefs matter more than their own endowments and personal pay-offs. A randomized information treatment confirms that beliefs explain views about reform, but beliefs can change with new information. Our results are robust to several robustness tests, including to alternative estimation techniques and samples.
Keywords:
political opinions; preferences; political economy; regulation; reform; employment protection; beliefs; ideology; endowments; surveys.; IMF working paper research Department; EPL deregulation; copyright page; individuals' belief; knowledge indicator; Labor markets; Labor force; Southern Europe; Northern Europe
Cover IMF Staff Country Reports
Japan: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper examines implications for long-term bond yields in case of Japan. The analysis finds that so far, upward pressure on interest rates from high public debt has been offset by domestic factors, including a stable investor base with a preference for safe assets. As these effects could decline with population aging, yields could rise unless reforms are implemented to stimulate growth and reduce the public debt-to-GDP ratio. In such a scenario, long-term Japanese government bond rates would remain relatively low and stable. The paper also analyzes to what extent rising health care spending poses a fiscal risk to Japan’s economy.
Keywords:
ISCR; CR; bank; GDP; Japan; worker; inflation dynamics; labor market duality; copayment rate; BoJ purchase; Japanese bank; Labor markets; Long term interest rates; Aging; Employment protection; Global; Asia and Pacific