{"title":"The Long-Term Economic Impact of Abenomics: Evidence from the Synthetic Control Method","authors":"Josh Matti","doi":"10.1111/1759-3441.12408","DOIUrl":null,"url":null,"abstract":"<p>This paper examines the long-term causal impact of Abenomics, a comprehensive policy package aiming to revitalise the Japanese economy. Using the Synthetic Control Method (SCM), the study assesses the effects of Abenomics across a variety of economic indicators. The findings reveal mixed impacts, with no evidence of Abenomics reducing budget deficits or boosting exports, but a positive effect on real GDP <i>per capita</i> paired with a reduction in the unemployment rate. The evidence regarding the effect on labor force participation rates is weaker, with primarily statistically insignificant increases observed. These results offer insights into the effectiveness of comprehensive policy interventions and provide lessons for policymakers globally in the midst of a global economic slowdown.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"43 1","pages":"10-33"},"PeriodicalIF":0.9000,"publicationDate":"2024-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Papers","FirstCategoryId":"1085","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/1759-3441.12408","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
This paper examines the long-term causal impact of Abenomics, a comprehensive policy package aiming to revitalise the Japanese economy. Using the Synthetic Control Method (SCM), the study assesses the effects of Abenomics across a variety of economic indicators. The findings reveal mixed impacts, with no evidence of Abenomics reducing budget deficits or boosting exports, but a positive effect on real GDP per capita paired with a reduction in the unemployment rate. The evidence regarding the effect on labor force participation rates is weaker, with primarily statistically insignificant increases observed. These results offer insights into the effectiveness of comprehensive policy interventions and provide lessons for policymakers globally in the midst of a global economic slowdown.
期刊介绍：
Economic Papers is one of two journals published by the Economics Society of Australia. The journal features a balance of high quality research in applied economics and economic policy analysis which distinguishes it from other Australian journals. The intended audience is the broad range of economists working in business, government and academic communities within Australia and internationally who are interested in economic issues related to Australia and the Asia-Pacific region. Contributions are sought from economists working in these areas and should be written to be accessible to a wide section of our readership. All contributions are refereed.
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