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Economy

Economist Krugman joins call for Japanese fiscal stimulus

Paul Krugman, left, advised Japanese leaders against raising the consumption tax.

TOKYO -- Every one of the economists that Prime Minister Shinzo Abe has invited here for a series of meetings with policymakers has recommended that Japan let loose government spending to counter slowing growth.

     Japan ought to spend without concern for budget deficits for two or three years, Nobel laureate Paul Krugman told officials here Tuesday, prompted by Abe. The prime minister said he has been told his debt-laden country ought to take advantage of negative interest rates to do just that.

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