Will structural reforms make it to the G7 agenda? (Yukinobu Kitamura, East Asia Forum)

Later this month, Japan will host the 42nd G7 summit. One point of discussion will be Japan’s plan to increase its consumption tax in April 2017. Nobel laureates Paul Krugman and Joseph Stiglitz have come out against this plan, arguing that Japan should hold off on the consumption tax increase. Eminent economists Dale Jorgenson and Jean Tirole have mirrored these concerns, suggesting that long-term structural reforms, not short-term fiscal fixes, are the answer to Japan’s economic woes

http://www.eastasiaforum.org/2016/05/14/will-structural-reforms-make-it-to-the-g7-agenda/