The holy grail of macroeconomics: lessons from Japan's great recession

INDICE: Foreword Chapter 1 What kind of recession has Japan been through? 1Structural problems and banking sector issues cannot explain the 1990s recession 2 The bubble's collapse triggered a balance sheet recession 3 Government spending bolstered the economy 4 Debt minimization and monetary policy Chapter 2 Characteristics of balance sheet recessions that should be kept in mind during the recovery 1 Emerging from a balance sheet recession 2 Tax receipts during a balance sheet recession 3 Interest rates after a balance sheet recession 4Proclaiming the need for more monetary policy easing only demonstrates a lackof understanding of the recession Chapter 3 The Great Depression was also a balance sheet recession 1 Why has economics overlooked the balance sheet recession? 2 The end of independent monetary policy 3 A balance sheet recession perspective of the Great Depression 4 There is more than one kind of recession Chapter 4 Monetary, foreign exchange, and fiscal policy during a balance sheet recession 1 The problem with unorthodox monetary accommodation 2 We must leave ahealthy economy for the next generation Chapter 5 Yin and yang economic cycles and the integration of macro economics 1 Bubbles and balance sheet recessions are part of the economic cycle 2 The mistake of applying yang policies during a yin cycle 3 What both Keynes and the monetarists have overlooked 4 Towardsa unified economic theory Chapter 6 The state of economic discussion in Japan1 Appraisals of Krugman 2 Criticism of the definition of a balance sheet recession 3 Those with no direct knowledge of Japan should be ignored 4 Having experienced a bubble, Japan must show the world how to respond to a balance sheetrecession Chapter 7 Challenges awaiting the world economy 1 Changes in the global economic environment 2 The US is also awash in money 3 Oil prices and US policy 4 The current global economic environment Appendix: Neoclassical economics has not given enough thought to why money exists 1 Money as a medium of exchange 2 Economic welfare implications of the use of money 3 Conclusions List of references Afterword Index

• ISBN: 978-0-470-82387-3
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 300
• Fecha Publicación: 01/06/2008
• Nº Volúmenes: 1
• Idioma: Inglés