Japan's Policy Trap: Dollars, Deflation, and the Crises of Japanese Finance

Valutazione media 4
( su 11 valutazioni fornite da GoodReads )
 
9780815702238: Japan's Policy Trap: Dollars, Deflation, and the Crises of Japanese Finance

Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains --at Japan's inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can't the Japanese government find the political will to fix the country's problems? Japan's Policy Trap offers a provocative new analysis of the country's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan's monetary policy in a deflationary direction. They link Japan's economic difficulties to the Achilles' heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan's dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan's authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan's policy trap far back into history, in the measures taken by Japan's officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the largest financial bubble in history. The bursting of that bubble was followed by massive public works spending that has resulted in an explosion in public sector debt. Japan's Policy Trap points to the likelihood that Japan will run out of ways to support its vast pile of dollar claims. Should the day come when those claims can no longer be supported, the world could see a horrific deflationary spiral in Japan, a crash in the global value of the dollar, or both. The effects would reach far beyond Japan's borders. Mikuni and Murphy suggest that a reduction in Japan's surplus must be accompanied by a reduction in deficits somewhere else --most obviously through far-reaching shifts in the American economy.

Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.

I migliori risultati di ricerca su AbeBooks

1.

Mikuni, Akio; Murphy, R. Taggart
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Quantità: 4
Da
BWB
(Valley Stream, NY, U.S.A.)
Valutazione libreria
[?]

Descrizione libro Condizione libro: New. Depending on your location, this item may ship from the US or UK. Codice libro della libreria 97808157022380000000

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 22,29
Convertire valuta

Aggiungere al carrello

Spese di spedizione: GRATIS
In U.S.A.
Destinazione, tempi e costi

2.

Akio Mikuni, R.Taggart Murphy
Editore: BROOKINGS INSTITUTION, United States (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Paperback Quantità: 1
Da
The Book Depository US
(London, Regno Unito)
Valutazione libreria
[?]

Descrizione libro BROOKINGS INSTITUTION, United States, 2003. Paperback. Condizione libro: New. 230 x 154 mm. Language: English . Brand New Book. Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world s number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains --at Japan s inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can t the Japanese government find the political will to fix the country s problems? Japan s Policy Trap offers a provocative new analysis of the country s protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan s monetary policy in a deflationary direction. They link Japan s economic difficulties to the Achilles heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan s dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan s authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan s policy trap far back into history, in the measures taken by Japan s officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the largest financial bubble in history. The bursting of that bubble was followed by massive public works spending that has resulted in an explosion in public sector debt. Japan s Policy Trap points to the likelihood that Japan will run out of ways to support its vast pile of dollar claims. Should the day come when those claims can no longer be supported, the world could see a horrific deflationary spiral in Japan, a crash in the global value of the dollar, or both. The effects would reach far beyond Japan s borders. Mikuni and Murphy suggest that a reduction in Japan s surplus must be accompanied by a reduction in deficits somewhere else --most obviously through far-reaching shifts in the American economy. Codice libro della libreria AAN9780815702238

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 23,67
Convertire valuta

Aggiungere al carrello

Spese di spedizione: GRATIS
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

3.

Akio Mikuni, R.Taggart Murphy
Editore: BROOKINGS INSTITUTION, United States (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Paperback Quantità: 1
Da
The Book Depository
(London, Regno Unito)
Valutazione libreria
[?]

Descrizione libro BROOKINGS INSTITUTION, United States, 2003. Paperback. Condizione libro: New. 230 x 154 mm. Language: English . Brand New Book. Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world s number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains --at Japan s inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can t the Japanese government find the political will to fix the country s problems? Japan s Policy Trap offers a provocative new analysis of the country s protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan s monetary policy in a deflationary direction. They link Japan s economic difficulties to the Achilles heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan s dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan s authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan s policy trap far back into history, in the measures taken by Japan s officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the largest financial bubble in history. The bursting of that bubble was followed by massive public works spending that has resulted in an explosion in public sector debt. Japan s Policy Trap points to the likelihood that Japan will run out of ways to support its vast pile of dollar claims. Should the day come when those claims can no longer be supported, the world could see a horrific deflationary spiral in Japan, a crash in the global value of the dollar, or both. The effects would reach far beyond Japan s borders. Mikuni and Murphy suggest that a reduction in Japan s surplus must be accompanied by a reduction in deficits somewhere else --most obviously through far-reaching shifts in the American economy. Codice libro della libreria AAN9780815702238

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 23,78
Convertire valuta

Aggiungere al carrello

Spese di spedizione: GRATIS
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

4.

Akio Mikuni,R.Taggart Murphy
Editore: Brookings Institution,U.S. 2003-09-01 (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Quantità: 2
Da
Chiron Media
(Wallingford, Regno Unito)
Valutazione libreria
[?]

Descrizione libro Brookings Institution,U.S. 2003-09-01, 2003. Condizione libro: New. Brand new book, sourced directly from publisher. Dispatch time is 24-48 hours from our warehouse. Book will be sent in robust, secure packaging to ensure it reaches you securely. Codice libro della libreria NU-GRD-05412648

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 23,14
Convertire valuta

Aggiungere al carrello

Spese di spedizione: EUR 3,55
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

5.

Akio Mikuni, R.Taggart Murphy
Editore: Brookings Institution
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Paperback Quantità: 4
Da
THE SAINT BOOKSTORE
(Southport, Regno Unito)
Valutazione libreria
[?]

Descrizione libro Brookings Institution. Paperback. Condizione libro: new. BRAND NEW, Japan's Policy Trap: Dollars, Deflation, and the Crisis of Japanese Finance, Akio Mikuni, R.Taggart Murphy, Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains --at Japan's inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can't the Japanese government find the political will to fix the country's problems? Japan's Policy Trap offers a provocative new analysis of the country's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan's monetary policy in a deflationary direction. They link Japan's economic difficulties to the Achilles' heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan's dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan's authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan's policy trap far back into history, in the measures taken by Japan's officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the largest financial bubble in history. The bursting of that bubble was followed by massive public works spending that has resulted in an explosion in public sector debt. Japan's Policy Trap points to the likelihood that Japan will run out of ways to support its vast pile of dollar claims. Should the day come when those claims can no longer be supported, the world could see a horrific deflationary spiral in Japan, a crash in the global value of the dollar, or both. The effects would reach far beyond Japan's borders. Mikuni and Murphy suggest that a reduction in Japan's surplus must be accompanied by a reduction in deficits somewhere else --most obviously through far-reaching shifts in the American economy. Codice libro della libreria B9780815702238

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 19,70
Convertire valuta

Aggiungere al carrello

Spese di spedizione: EUR 7,06
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

6.

Mikuni, Akio
Editore: Brookings Institution Press (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Paperback Quantità: 1
Da
Murray Media
(North Miami Beach, FL, U.S.A.)
Valutazione libreria
[?]

Descrizione libro Brookings Institution Press, 2003. Paperback. Condizione libro: New. Codice libro della libreria 081570223X

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 27,41
Convertire valuta

Aggiungere al carrello

Spese di spedizione: EUR 2,74
In U.S.A.
Destinazione, tempi e costi

7.

Akio Mikuni, R.Taggart Murphy
Editore: Brookings Institution 2003-09-01, Washington DC (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi paperback Quantità: 1
Da
Blackwell's
(Oxford, OX, Regno Unito)
Valutazione libreria
[?]

Descrizione libro Brookings Institution 2003-09-01, Washington DC, 2003. paperback. Condizione libro: New. Codice libro della libreria 9780815702238

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 24,85
Convertire valuta

Aggiungere al carrello

Spese di spedizione: EUR 5,35
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

8.

Akio Mikuni, R.Taggart Murphy
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Paperback Quantità: 2
Da
Ria Christie Collections
(Uxbridge, Regno Unito)
Valutazione libreria
[?]

Descrizione libro Paperback. Condizione libro: New. Not Signed; Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. And they did it by flouting eve. book. Codice libro della libreria ria9780815702238_rkm

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 26,08
Convertire valuta

Aggiungere al carrello

Spese di spedizione: EUR 4,15
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

9.

Akio Mikuni
Editore: Brookings Institution (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Quantità: 4
Da
Books2Anywhere
(Fairford, GLOS, Regno Unito)
Valutazione libreria
[?]

Descrizione libro Brookings Institution, 2003. PAP. Condizione libro: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Codice libro della libreria CE-9780815702238

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 19,70
Convertire valuta

Aggiungere al carrello

Spese di spedizione: EUR 10,69
Da: Regno Unito a: U.S.A.
Destinazione, tempi e costi

10.

Mikuni, Akio; Murphy, R.Taggart
Editore: Brookings Institution (2003)
ISBN 10: 081570223X ISBN 13: 9780815702238
Nuovi Brossura Quantità: 2
Valutazione libreria
[?]

Descrizione libro Brookings Institution, 2003. Condizione libro: New. Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. Num Pages: 304 pages, illustrations. BIC Classification: 1FPJ; GTB; KCP; KFF. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 229 x 155 x 22. Weight in Grams: 440. . 2003. Paperback. . . . . . Codice libro della libreria V9780815702238

Maggiori informazioni su questa libreria | Fare una domanda alla libreria

Compra nuovo
EUR 30,68
Convertire valuta

Aggiungere al carrello

Spese di spedizione: GRATIS
Da: Irlanda a: U.S.A.
Destinazione, tempi e costi

Vedi altre copie di questo libro

Vedi tutti i risultati per questo libro