Author: Publisher:
ISBN:
Category : Commerce
Languages : en
Pages : 642
Book Description
The Japan Financial and Economic Monthly
Author: Japan's Financial Relations with the United States
Author: Gyoju OdateJapan's Financial Crisis and Its Parallels to U.S. Experience
Author: Ryōichi MikitaniPublisher: Peterson Institute
ISBN: 9780881322897
Category : Business & Economics
Languages : en
Pages : 256
Book Description
Japan is only one of many industrialized economies to suffer a financial crisis in the past 15 years, but it has suffered the most from its crisis--as measured in lost output and investment opportunities, and in the direct costs of clean-up. Comparing the response of Japanese policy in the 1990s to that of US monetary and financial policy to the American Savings and Loan Crisis of the late 1980s sheds light on the reasons for this outcome. This volume was created by bringing together several leading academics from the United States and Japan--plus former senior policymakers from both countries--to discuss the challenges to Japanese financial and monetary policy in the 1990s. The papers address in turn both the monetary and financial aspects of the crisis, and the discussants bring together broad themes across the two countries' experiences. As the papers in this Special Report demonstrate, while the Japanese government's policy response to its banking crisis in the 1990s was slow in comparison to that of the US government a decade earlier, the underlying dynamics were similar. A combination of mismanaged partial deregulation and regulatory forebearance gave rise to the crisis and allowed it to deepen, and only the closure of some banks and injection of new capital into others began the resolution. The Bank of Japan's monetary policy from the late 1980s onward, however, was increasingly out of step with US or other developed country norms. In particular, the Bank of Japan's limited response to deflation after being granted independence in 1998 stands out as a dangerous and unusual stance.
The Oriental Economist
Author: The DIR Guide to Japanese Economic Statistics
Author: Mikihiro MatsuokaPublisher: Oxford University Press, USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 316
Book Description
This is a definitive and indispensable guide for English speakers.
Monthly Report of Recent Economic and Financial Developments
Author: Financial and Economic Annual of Japan
Author: Japan. ŌkurashōPublisher:
ISBN:
Category : Finance
Languages : en
Pages : 252
Book Description
Monthly Economic Report
Author: Japan. Keizai KikakuchōPublisher:
ISBN:
Category : Japan
Languages : en
Pages : 20
Book Description
The Japan Financial and Economic Monthly
Author: The Japanese Economy During the Great Depression
Author: Masato ShizumePublisher: Springer Nature
ISBN: 9811373574
Category : Business & Economics
Languages : en
Pages : 125
Book Description
This book provides a systematic explanation of a remarkable policy innovation in an emerging economy in the modern world. In doing so, it highlights the nature of the Japanese economy during the interwar period. It offers a canonical case study for an international macroeconomic policy of a small and open economy. Readers can draw lessons from the Japanese experience in the 1930s, recalling what kinds of challenges policymakers faced in a crisis situation, what they can do, and what they should not do. As a whole, it is a novel reference both for scholars in economic history and international economics and for policymakers all over the world. A comprehensive and clear-cut picture of the Japanese economy during the Great Depression in the 1930s is presented, including the policy innovations brought about by an iconoclastic finance minister, Korekiyo Takahashi, at that time. To this end, the book integrates the narrative analysis based on newly available archival documents and the quantitative analysis based on newly constructed macroeconomic data and contemporary econometric methodologies. This work shows how Japan escaped from the depression in its early stage. It illustrates a transmission mechanism of the macroeconomic stimulus package of currency depreciation, easy money, and fiscal expansion. As well, it argues that the key for economic recovery was currency depreciation and that expectations played a pivotal role in ending deflation and kick-starting economic recovery. Also contained here is an exploration of politico-economic interaction in the shaping of economic policy and the long-term consequences of policy actions such as departure from the gold standard and initiation of the government debt finance by the central bank. It is shown that the collapse of the international gold standard and the lack of governance of military spending resulted in a loss of fiscal discipline in the long run.