How uncertain are economic policies? New evidence from a firm survey

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• 作者：Masayuki Morikawa ; ^{morikawa-masayuki@rieti.go.jp" class="auth_mail" title="E-mail the corresponding author} ; ^{BXZ00354@nifty.ne.jp" class="auth_mail" title="E-mail the corresponding author}
• 关键词：D84 ; E29 ; H29 ; M21
• 刊名：Economic Analysis and Policy
• 出版年：2016
• 出版时间：December 2016
• 年：2016
• 卷：52
• 期：Complete
• 页码：114-122
• 全文大小：399 K

文摘

This study, using data from an original survey covering both public and private firms in Japan, presents evidence on uncertainties over economic policies, their effects on managerial decisions, and firms’ evaluations of the government’s numerical targets related to economic policies. The results indicate that Japanese firms perceive uncertainty over certain economic policies, such as the social security system, tax policy, fiscal expenditure, and international trade policy. Policy uncertainties have substantial effects on managerial decisions, especially on equipment investment and hiring of regular employees. Medium- to long-term numerical targets related to the government’s economic policies are perceived to be difficult to achieve.