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Japan's Great Stagnation Financial and Monetary Policy Lessons for Advanced Economies

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ISBN-10: 0262083477

ISBN-13: 9780262083478

Edition: 2006

Authors: Michael M. Hutchison, Frank Westermann, Clemens Fuest

List price: $9.75
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Description:

After experiencing spectacular economic growth and industrial development for much of the postwar era, Japan plunged abruptly into recession in the early 1990s and since then has suffered a prolonged period of economic stagnation, from which it is only now emerging. Japan's malaise, marked by recession or weak economic activity, commodity and asset price deflation, banking failures, increased bankruptcies, and rising unemployment, has been the most sustained economic downturn seen in the industrial world since the 1930s. In Japan's Great Stagnation, experts on the Japanese economy consider key questions about the causes and effects of Japan's prolonged period of economic underperformance…    
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Book details

List price: $9.75
Copyright year: 2006
Publisher: MIT Press
Publication date: 6/9/2006
Binding: Hardcover
Pages: 296
Size: 6.25" wide x 9.50" long x 1.00" tall
Weight: 1.144

Michael M. Hutchison is Professor of Economics at the University of California, Santa Cruz. He is coauthor of The Political Economy of Japanese Monetary Policy (MIT Press, 1997) and Financial Policy and Central Banking in Japan (MIT Press, 2000).

Frank Westermann is Professor of Economics and Director of the Institute of Empirical Economic Research at Osnabrueck University, Germany.

Clemens Fuest is Research Director of the Oxford University Centre for Business Taxation and Professor of Business Taxation at Oxford's Sa�d Business School.

Contributors
Series Foreword
The Great Japanese Stagnation: Lessons for Industrial Countries
Bank Fragility in Japan
Deposit Insurance, Regulatory Forbearance, and Economic Growth: Implications for the Japanese Banking Crisis
Determinants of Voluntary Bank Disclosure: Evidence from Japanese Shinkin Banks
Secondary Bank Lending in Japan
Monetary Policy in the Great Stagnation
The Policy Duration Effect and Zero Interest Rates: An Application of Wavelet Analysis
Exchange Rate Pass-through in Deflationary Japan: How Effective Is the Yen's Depreciation for Fighting Deflation?
Japan's Imbalance of Payments
Index