Japan's Lost Decade
Origins, Consequences and Prospects for Recovery
World Economy Special Issues
1. Auflage Januar 2004
132 Seiten, Softcover
Wiley & Sons Ltd
ISBN:
978-1-4051-1917-7
John Wiley & Sons
This volume explores the origins of Japan's current economic
crisis and assesses the country's prospects for
recovery.
* * An exploration of the origins and consequences of Japan's
current economic crisis.
* * Examines the collapse of the equity and real estate market
bubbles in the late 1980s.
* * Analyses the failure of Japanese monetary and fiscal policies
to reverse the ensuing economic decline.
* * Evaluates unorthodox options available to policy makers that
might enable Japan to recover from its 'lost
decade'.
* * Suggests that Japan's prospects for economic recovery are
still uncertain.
1. The Bubble and the Lost Decade: Gary R. Saxonhouse and Robert M.
Stern (both University of Michigan).
2. Retrospective on the Bubble Period and its Relationship to
Developments in the 1990s: Takatoshi Ito (University of Tokyo).
3. Why Does the Problem Persist? 'Rational Rigidity'
and the Plight of Japanese Banks: Kiyohiko G. Nishimura (University
of Tokyo) and Yuko Kawamoto (McKinsey & Company, Japan).
4. Japan's Fiscal Policies in the 1990s: Toshihiro Ihori
(University of Tokyo), Toru Nakazato (Sophia University, Tokyo),
and Masumi Kawade (University of Tokyo).
5. Japan's Negative Risk Premium in Interest Rates: The
Liquidity Trap and the Fall in Bank Lending: Rishi Goyal
(International Monetary Fund) and Ronald McKinnon (Stanford
University).
6. Japan's Lost Decade and its Financial System: Mitsuhiro
Fukao (Keio University, Tokyo).
Index.
Stern (both University of Michigan).
2. Retrospective on the Bubble Period and its Relationship to
Developments in the 1990s: Takatoshi Ito (University of Tokyo).
3. Why Does the Problem Persist? 'Rational Rigidity'
and the Plight of Japanese Banks: Kiyohiko G. Nishimura (University
of Tokyo) and Yuko Kawamoto (McKinsey & Company, Japan).
4. Japan's Fiscal Policies in the 1990s: Toshihiro Ihori
(University of Tokyo), Toru Nakazato (Sophia University, Tokyo),
and Masumi Kawade (University of Tokyo).
5. Japan's Negative Risk Premium in Interest Rates: The
Liquidity Trap and the Fall in Bank Lending: Rishi Goyal
(International Monetary Fund) and Ronald McKinnon (Stanford
University).
6. Japan's Lost Decade and its Financial System: Mitsuhiro
Fukao (Keio University, Tokyo).
Index.
Gary R. Saxonhouse is Professor of Economics at the
University of Michigan. He is the author of numerous journal
articles on topics ranging from the structure and operation of the
Japanese economy to English, Japanese and Indian economic history.
He has co-authored or co-edited five books, most recently
Finance, Governance and Competitiveness in Japan (2000).
Robert M. Stern is Professor of Economics and Public
Policy (Emeritus) at the University of Michigan. He has published
numerous papers on a wide variety of topics, including
international commodity problems, export-led growth, and services
liberalization. His most recent books include Japan's
Economic Recovery (2003) and Issues and Options for
U.S.-Japan Trade Policies (2002).
University of Michigan. He is the author of numerous journal
articles on topics ranging from the structure and operation of the
Japanese economy to English, Japanese and Indian economic history.
He has co-authored or co-edited five books, most recently
Finance, Governance and Competitiveness in Japan (2000).
Robert M. Stern is Professor of Economics and Public
Policy (Emeritus) at the University of Michigan. He has published
numerous papers on a wide variety of topics, including
international commodity problems, export-led growth, and services
liberalization. His most recent books include Japan's
Economic Recovery (2003) and Issues and Options for
U.S.-Japan Trade Policies (2002).
