Japan’s Lost Decade

Japan’s Lost Decade

Author: Naoyuki Yoshino

Publisher: Springer

Published: 2017-09-20

Total Pages: 187

ISBN-13: 981105021X

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This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment–saving” (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan’s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People’s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future.


Understanding Saving

Understanding Saving

Author: Fumio Hayashi

Publisher: MIT Press

Published: 1997

Total Pages: 532

ISBN-13: 9780262082556

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Analysis of consumption and saving decisions by households has always been one of the most active areas of research in economics--and with good reason. Private consumption is the most important component of aggregate demand in a capitalist economy, and explaining consumption is the key element in most macroeconomic forecasting models. To evaluate the effect of government policies invariably requires the knowledge of how they change parameters relevant for household decision making. Understanding Saving collects eleven papers by economist Fumio Hayashi, along with two previously unpublished chapters, for a total of thirteen chapters. The monograph, which brings together Hayashi's empirical research on saving, is divided into three sections. Part I, "Liquidity Constraints", contains five studies that test the well-known implication of the Life Cycle-Permanent Income hypothesis that households shield consumption from income fluctuations. Part II, "Risk-Sharing and Altruism", contains three papers that examine the interactions between related and unrelated households predicted by the hypothesis for the US and Japanese households. The three papers in Part III, "Japanese Saving Behavior", present the author's explanation of the high saving rate in postwar Japan.


National Saving and Economic Performance

National Saving and Economic Performance

Author: B. Douglas Bernheim

Publisher: University of Chicago Press

Published: 1991-05

Total Pages: 408

ISBN-13: 9780226044040

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"... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.


The Transformation of the Japanese Economy

The Transformation of the Japanese Economy

Author: Kazuo Sato

Publisher: Routledge

Published: 2016-09-16

Total Pages: 474

ISBN-13: 1315285274

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During the rapid growth period of the Japanese economy, from the mid-1950s to the mid-1970s, the economic system that became entrenched in Japan -- the so-called Japanese-style capitalism -- was based on the government-business-bureaucracy triad. Although its distinct features survived the subsequent two decades of slow growth, there are many indications that the Japanese economy is once again struggling to transform itself. These translations from the Japanese economic literature expertly address this transformation.


The Fall of Japan

The Fall of Japan

Author: William J. Craig

Publisher: Open Road Media

Published: 2015-09-29

Total Pages: 315

ISBN-13: 1504021339

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New York Times Bestseller: A “virtually faultless” account of the last weeks of WWII in the Pacific from both Japanese and American perspectives (The New York Times Book Review). By midsummer 1945, Japan had long since lost the war in the Pacific. The people were not told the truth, and neither was the emperor. Japanese generals, admirals, and statesmen knew, but only a handful of leaders were willing to accept defeat. Most were bent on fighting the Allies until the last Japanese soldier died and the last city burned to the ground. Exhaustively researched and vividly told, The Fall of Japan masterfully chronicles the dramatic events that brought an end to the Pacific War and forced a once-mighty military nation to surrender unconditionally. From the ferocious fighting on Okinawa to the all-but-impossible mission to drop the 2nd atom bomb, and from Franklin D. Roosevelt’s White House to the Tokyo bunker where tearful Japanese leaders first told the emperor the truth, William Craig captures the pivotal events of the war with spellbinding authority. The Fall of Japan brings to life both celebrated and lesser-known historical figures, including Admiral Takijiro Onishi, the brash commander who drew up the Yamamoto plan for the attack on Pearl Harbor and inspired the death cult of kamikaze pilots., This astonishing account ranks alongside Cornelius Ryan’s The Longest Day and John Toland’s The Rising Sun as a masterpiece of World War II history.


Understanding Japanese Savings

Understanding Japanese Savings

Author: Robert Dekle

Publisher: Routledge

Published: 2004-11-30

Total Pages: 100

ISBN-13: 1134793146

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Chapter the Japanese elderly -- chapter and fundamentals -- chapter aging on future saving, investment, and budget deficits -- chapter immigration in impacting saving, investment, and foreign capital in?ows -- chapter and consumption behavior -- chapter developing countries.


Avoiding the Fall

Avoiding the Fall

Author: Michael Pettis

Publisher: Brookings Institution Press

Published: 2013-09-24

Total Pages: 172

ISBN-13: 0870034081

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The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.