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Holy Grail of Macroeconomics Lessons from Japan's Great Recession

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ISBN-10: 0470823879

ISBN-13: 9780470823873

Edition: 2008

Authors: Richard C. Koo

List price: $50.00
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Description:

Japan's "Great Recession" lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US recession of the 1930s. The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings.…    
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Book details

List price: $50.00
Copyright year: 2008
Publisher: John Wiley & Sons, Incorporated
Publication date: 5/4/2009
Binding: Hardcover
Pages: 320
Size: 6.50" wide x 9.00" long x 1.25" tall
Weight: 1.298
Language: English

Acknowledgments
Preface
Japan's Recession
Characteristics of Balance Sheet Recessions
The Great Depression was a Balance Sheet Recession
Monetary, Foreign Exchange, and Fiscal Policy During a Balance Sheet Recession
Yin and Yang Economic Cycles and the Holy Grail of Macroeconomics
Pressure of Globalization
Ongoing Bubbles and Balance Sheet Recessions
Thoughts on Walras and Macroeconomics
Index