Financial strains and the zero lower bound: the Japanese experience
In: BIS working papers 141
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In: BIS working papers 141
In: NBER working paper series 9368
In: Integrating national economies: promise and pitfalls
In: Working papers 128
World Affairs Online
In: International economics and economic policy, Band 2, Heft 2-3, S. 173-188
ISSN: 1612-4812
In: Structural Impediments to Growth in Japan, S. 9-36
In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 30, S. 167-220
ISSN: 0167-2231
In: OECD journal: economic studies, S. 35-92
ISSN: 1995-2848, 0255-0822
In: Journal of institutional and theoretical economics: JITE, Band 132, Heft 1, S. 185-186
ISSN: 0932-4569
In: KDI/EWC series on economic policy
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 judicious volume 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. This book helps to provide a basis for assessing a wide range of policy approaches from which policymakers and governments can choose to avoid economic decline. The expert contributions provide an overview of the pattern of `Japanization' in a global economic perspective, analyze similarities and differences between the Korean and Japanese economies, and examine policy measures taken by Japan during the lost decades. From this analysis, the book proposes future policy solutions for countries experiencing 'Japanization'. Economic stagnation and the relevant policy reactions have been of keen interest around the globe since the global financial crisis and this book will be an invaluable resource for scholars, policymakers, and economic commentators alike
World Affairs Online