The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession

2009-05-04article408 citationsclosed

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Economic Theory and Policy Monetary Policy and Economic Impact Global Financial Crisis and Policies

Abstract

Foreword. Chapter 1 What kind of recession has Japan been through? Chapter 2 Characteristics of balance sheet recessions that should be kept in mind during the recovery. Chapter 3 The Great Depression was also a balance sheet recession. Chapter 4 Monetary, foreign exchange, and fiscal policy during a balance sheet recession. Chapter 5 Yin and Yang economic cycles and the Holy Grail of macroeconomics. Chapter 6 Pressure of globalization. Chapter 7 Ongoing bubbles and balance sheet recessions. Chapter 8 World in Balance-Sheet Recession. Appendix: Thoughts on Walras and macroeconomics. Index.

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