detail - Auslandsbüro Japan / Regionalprogramm Soziale Ordnungspolitik in Asien (SOPAS)
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Key messages include:
- Aging economies often have a stagnating labor force with high public debt. These conditions lead to weaker effects on private consumption and investment, blunting the effect of fiscal stimulus packages.
- In aging economies, a larger fiscal stimulus might be required to increase demand during recessions. Other economic policies, including structural reforms, for example stronger female labor force participation or labor market needs-based immigration are needed to support fiscal stimulus packages.