Japan's Bubble, Deflation, and Long-term Stagnation (Paperback)

Koichi Hamada

ISBN 10: 0262054353 / ISBN 13: 9780262054355

Editore: MIT Press Ltd, 2025

Riguardo questo articolo

Paperback. New perspectives on Japan's lost decade viewed in the context of recent financial turmoil.Japan's economic bubble burst in the early 1990s, and the country entered its famous lost decadea period of stagnation and economic disruption that persisted until 2003. The current declines in global equity and real estate markets have eerie parallels to Japan's economic woes of the 1990s. If we are to avoid repeating Japan's experience on a global scale, we must understand what happened, why it happened, and the effectiveness (or ineffectiveness) of Japan's policy choices. In this volume, prominent economistsJapan specialists and othersbring state-of-the-art models and analytic tools to bear on these questions. The essays generate new facts and new findings about Japan's lost decade. As much of the research shows, the slowdown can be broken down into two phases: a typical recession, followed by a breakdown in the economy likely due to insufficient restructuring, which is not well described by conventional models. The contributors offer forceful arguments showing that Japan's experience, and the unconventionalsometimes unsuccessfulmeasures adopted by Japan's government and central bank, offer valuable lessons for our post-boom world. Contributors Kenn Ariga, Robert Barsky, Diego Comin, Robert Dekle, Kyoji Fukao, Koichi Hamada, Takeo Hoshi, Ryo Kambayashi, Anil K Kashyap, Takao Kato, Satoshi Koibuchi, Philip R. Lane, John Muellbauer, Kiko Murata, Maurice Obstfeld, Ryosuke Okazawa, Joe Peek, Ulrike Schaede, David E. Weinstein This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability.

Codice articolo 9780262054355

Dati bibliografici

• Titolo: Japan's Bubble, Deflation, and Long-term Stagnation (Paperback)
• Editore: MIT Press Ltd
• Data di pubblicazione: 2025
• Lingua: Inglese
• ISBN 10: 0262054353
• ISBN 13: 9780262054355
• Rilegatura: Paperback
• Condizione: new

Descrizione articolo

Riassunto

New perspectives on Japan's “lost decade” viewed in the context of recent financial turmoil.

Japan's economic bubble burst in the early 1990s, and the country entered its famous “lost decade”—a period of stagnation and economic disruption that persisted until 2003. The current declines in global equity and real estate markets have eerie parallels to Japan's economic woes of the 1990s. If we are to avoid repeating Japan's experience on a global scale, we must understand what happened, why it happened, and the effectiveness (or ineffectiveness) of Japan's policy choices. In this volume, prominent economists—Japan specialists and others—bring state-of-the-art models and analytic tools to bear on these questions. The essays generate new facts and new findings about Japan's lost decade. As much of the research shows, the slowdown can be broken down into two phases: a typical recession, followed by a breakdown in the economy likely due to insufficient restructuring, which is not well described by conventional models. The contributors offer forceful arguments showing that Japan's experience, and the unconventional—sometimes unsuccessful—measures adopted by Japan's government and central bank, offer valuable lessons for our post-boom world.

Contributors
Kenn Ariga, Robert Barsky, Diego Comin, Robert Dekle, Kyoji Fukao, Koichi Hamada, Takeo Hoshi, Ryo Kambayashi, Anil K Kashyap, Takao Kato, Satoshi Koibuchi, Philip R. Lane, John Muellbauer, Kiko Murata, Maurice Obstfeld, Ryosuke Okazawa, Joe Peek, Ulrike Schaede, David E. Weinstein

Informazioni sull'autore

Koichi Hamada is Tuntex Professor of Economics at Yale University and the auhor of The Political Economy of International Monetary Interdependence (MIT Press, 1985).

Anil K Kashyap is Edward Eagle Brown Professor of Economics and Finance and Richard N. Rossett Faculty Fellow at the University of Chicago Booth School of Business. He is the coauthor of Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001).

David E. Weinstein is Carl S. Shoup Professor of the Japanese Economy at Columbia University and the coeditor of Reviving Japan's Economy: Problems and Prescriptions (MIT Press, 2005).