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Fiscal Responses to the COVID-19 Crisis in Japan: The First Six Months

Michihito Ando, Chishio Furukawa, Daigo Nakata, and Kazuhiko Sumiya

Abstract:

This paper provides an overview of the Japanese government response to the COVID-19 crisis in terms of the fiscal measures taken between January and June 2020. As the crisis intensified, the government passed emergency budgets with a total value exceeding 10 percent of gross domestic product. One of the main programs was an unconditional cash transfer for households in the amount of 100,000 JPY (i.e., 909 USD) per resident. In addition, to prevent layoffs and bankruptcies, the government created and expanded various loan and subsidy programs to support firms and workers. Other existing social programs and local economic policies are also reviewed.

Citation

Michihito Ando, Chishio Furukawa, Daigo Nakata, and Kazuhiko Sumiya (2020), Fiscal Responses to the COVID-19 Crisis in Japan: The First Six Months , National Tax Journal, 73:3, pp. 901-926

DOI: dx.doi.org/10.17310/ntj.2020.3.12

Additional Materials

Online appendix