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Author : Mien Woon Ng
Publisher :
ISBN 13 :
Total Pages : 222 pages
Book Rating : 4.:/5 (969 download)
Download or read book Price Destruction and Its Implications for the Japanese Economy written by Mien Woon Ng and published by . This book was released on 1997 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yasushi Hamao
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (318 download)
Download or read book Idiosyncratic Risk and the Creative Destruction of Japan written by Yasushi Hamao and published by . This book was released on 2003 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dramatic rise and fall of the Japanese equity market provides a unique opportunity to examine market-and firm-specific risks over different market conditions. The price behavior of Japanese equities in the 1990s is found to resemble that of U.S. equities during the Great Depression. Both show increasing market volatility and a prolonged large co-movement in equity prices. What is unique about the Japanese case is the surprising fall in firm-level volatility and turnover in Japanese stocks after its market crash in 1990. This large decrease in firm-level volatility may have impeded Japan's capital formation process as it has become more difficult over the past decade for both investors and managers to separate high quality from low quality firms. Using data on firm performance fundamentals and corporate bankruptcies, we show that the fall in firm-level volatility and turnover in Japanese stocks could be attributed to the sharp increase in earnings homogeneity among Japanese firms and the lack of corporate restructuring.
Author : Osamu Nakamura
Publisher : World Scientific
ISBN 13 : 981443616X
Total Pages : 270 pages
Book Rating : 4.8/5 (144 download)
Download or read book Income Distribution and Economic Growth of Japan Under the Deflationary Economy written by Osamu Nakamura and published by World Scientific. This book was released on 2013 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the causes of the Japanese deflationary economy, characterized as a structural deflation, and discusses how to alleviate the prolonged slowdown in order to restore Japan to a trajectory of high economic growth, with a special focus on the function of income distribution.
Author : Yasuyoshi Masuda
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)
Download or read book Japan's Economy in the Coming Decade written by Yasuyoshi Masuda and published by . This book was released on 2001 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Masayuki Otaki
Publisher : Routledge
ISBN 13 : 1317384148
Total Pages : 137 pages
Book Rating : 4.3/5 (173 download)
Download or read book The Origin of the Prolonged Economic Stagnation in Contemporary Japan written by Masayuki Otaki and published by Routledge. This book was released on 2015-08-20 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deflationary Japanese economy is a spurious observation and a precarious political propaganda, which tacitly connects with the fanatic diagnosis urging an inflation-prompting macroeconomic policy. This book provides an overview of the prolonged stagnation of the current Japanese economy. It also examines the politico-economic implications concerning the precarious conversion of Japanese monetary policy and focuses on the vulnerability of the price-sustaining policy concerning the public debt. The book also analyzes and suggests against the acceleration of inflation under the current Japanese foreign exchange system and also suggests that the surge of foreign direct investment towards East Asia is the acute cause of Japanese economy stagnation. The book concludes that to rebuild the economic potential of the Japanese economy, education and fostering the youths are the keys. This book will definitely interest those who are keen to learn more about the relationship between Bank of Japan and the Japanese political parties.
Author : Mr.Taimur Baig
Publisher : International Monetary Fund
ISBN 13 : 1451875061
Total Pages : 28 pages
Book Rating : 4.4/5 (518 download)
Download or read book Understanding the Costs of Deflation in the Japanese Context written by Mr.Taimur Baig and published by International Monetary Fund. This book was released on 2003-11-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the cost of deflation in the context of Japan's ongoing deflationary episode. The impact of deflation owing to the zero interest rate bound on monetary policy, wage rigidity, redistribution of wealth from debtor to creditor, and inflexibilities in the financial sector are examined. It is seen that the generalized decline in the Japanese price level, however gradual or mild, has substantially exacerbated the economy's adjustment process under already difficult economic conditions.
Author : Richard Werner
Publisher : Routledge
ISBN 13 : 131746219X
Total Pages : 384 pages
Book Rating : 4.3/5 (174 download)
Download or read book Princes of the Yen written by Richard Werner and published by Routledge. This book was released on 2015-03-04 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.
Author : Dongchul Cho
Publisher : Edward Elgar Publishing
ISBN 13 : 1788110447
Total Pages : 339 pages
Book Rating : 4.7/5 (881 download)
Download or read book Economic Stagnation in Japan written by Dongchul Cho and published by Edward Elgar Publishing. This book was released on 2018-01-26 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan’s dramatic transformation from economic success to economic stagnation offers important policy lessons to advanced countries everywhere that are struggling with stagnation. The term ‘Japanization’ is often used by economists to describe long-term stagnation and deflation. Symptoms include high unemployment, weak economic activity, interest rates near zero, quantitative easing, and population aging. In the global context, what can governments do to mitigate the downward trends experienced by Japan? This judiciously timed book investigates in depth the causes of Japan’s ‘lost decades’ versus the real recovery achieved by the United States, and the lessons that can be learned.
Author : Christopher Wood
Publisher :
ISBN 13 :
Total Pages : 234 pages
Book Rating : 4.:/5 (321 download)
Download or read book The Bubble Economy written by Christopher Wood and published by . This book was released on 1992 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan may have a first-rate economy, but it has also a second-rate financial system and that weakness could prove disastrous. This book tells the story of this 'Bubble Economy', of the scandals it has spawned in both the banking and securities business, and of its effects on the world's economy.
Author : Akio Mikuni
Publisher : Rowman & Littlefield
ISBN 13 : 0815798768
Total Pages : 314 pages
Book Rating : 4.8/5 (157 download)
Download or read book Japan's Policy Trap written by Akio Mikuni and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 large
Author : Rodney Tyers
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (769 download)
Download or read book Japan's Economic Slowdown and Its Global Implications written by Rodney Tyers and published by . This book was released on 2011 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite its role as a driver of global economic growth through the 1970s, in recent decades the rise of China has seen the international importance of Japan?s economic performance recede from the public discourse. This is notwithstanding its continuing key role as economic partner to both industrial and developing countries and changes in its economic performance that would otherwise be a matter for global concern. In particular, the tendency for the Japanese economy and its external trade to stagnate not only has immediate consequences for global performance but it also foreshadows a path to industrial transition for other key Asian economies. This paper reviews quantitative studies of Japan's performance. It identifies a paucity of results addressing global implications and suggests new research in this direction.
Author : Richard Koo
Publisher :
ISBN 13 :
Total Pages : 308 pages
Book Rating : 4.:/5 (318 download)
Download or read book Balance Sheet Recession written by Richard Koo and published by . This book was released on 2003-10-24 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this groundbreaking book, leading international economist, Richard Koo argues that far from being the sick man of Asia, Japan is suffering from a temporary but highly unusual economic aberration. Economists and business commentators have always assumed that the majority of companies in any economy are forward looking and are trying to maximize profits. They never considered the possibility that a vast majority of companies may be placing their highest priorities on minimizing debt in order to repair their balance sheets. But that remote possibility has been the reality in Japan for the past decade, and more recently in many other countries including at least a part of the US. Balance Sheet Recession argues that contrary to popular belief, it is this massive shift in corporate behavior, instead of structural problems, that is the root cause of both the deflation and the non-performing loan problems that have troubled Japan for so long. It argues that when the causality runs from the corporate balance sheet problems to deflation and banking problems, a highly unconventional policy response is needed to stabilize the economy. After all, the last time anything similar has happened was the 1930s in the US. Richard Koo's experience in dealing with both the US banking crisis of the early 1980s and the Japanese balance sheet and banking problems of the last ten years makes him unique qualified to comment on this situation. He clearly explains how such a recession can happen in any economy following an asset price bubble, and how best to deal with it.
Author :
Publisher :
ISBN 13 : 9784175663956
Total Pages : 428 pages
Book Rating : 4.6/5 (639 download)
Download or read book Economic Survey of Japan (1994-1995) written by and published by . This book was released on 1996 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gary Saxonhouse
Publisher : Wiley-Blackwell
ISBN 13 : 9781405119177
Total Pages : 132 pages
Book Rating : 4.1/5 (191 download)
Download or read book Japan's Lost Decade written by Gary Saxonhouse and published by Wiley-Blackwell. This book was released on 2004-03-05 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the origins of Japan’s current economic crisis and assesses the country’s prospects for recovery. An exploration of the origins and consequences of Japan’s current economic crisis. Examines the collapse of the equity and real estate market bubbles in the late 1980s. Analyses the failure of Japanese monetary and fiscal policies to reverse the ensuing economic decline. Evaluates unorthodox options available to policy makers that might enable Japan to recover from its ‘lost decade’. Suggests that Japan’s prospects for economic recovery are still uncertain.
Author : Rona Anwar Al-Haq Ahadi
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.:/5 (787 download)
Download or read book The Global Economic Meltdown Wave in Japan and Its Implications on the US Economy written by Rona Anwar Al-Haq Ahadi and published by . This book was released on 1999 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Japan. Keizai Kikakuchō
Publisher :
ISBN 13 :
Total Pages : 876 pages
Book Rating : 4.3/5 (91 download)
Download or read book Economic Survey of Japan written by Japan. Keizai Kikakuchō and published by . This book was released on 1994 with total page 876 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kunio Okina
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book Asset Price Fluctuations, Structural Adjustments, and Sustained Economic Growth written by Kunio Okina and published by . This book was released on 2004 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper, examines implications of asset price fluctuations and resultant structural adjustments on sustained economic growth, based on Japan's experience since the latter half of the 1980s. In doing so, the view that the protracted economic stagnation in Japan can be seen as a result of the incomplete economic adjustments to significant changes in relative prices, in part triggered by the bursting of the asset price bubble. Such changes in relative prices include movements in both intertemporal and cross-sectional dimensions, which interacted crucially to lower the economy's trend growth. This aspect of Japan's asset price bubble, with its consequences for structural adjustments since the 1990s, is important because it illustrates the specific environment in which the Bank of Japan has to conduct monetary policy: namely, not a standard stabilization policy around a stable growth trend. Rather, it has operated in an environment of unanswered policy management questions coupled with hampered sustained growth.
