Balance Sheet Recession: Japan's Struggle with Uncharted Economics and Its Global Implications

2004-01-01articleForeign Affairs117 citationsclosed

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

Abstract

Acknowledgements.Introduction.1. The Japanese Economy in Balance Sheet Recession.A 2. Fiscal Stimulus Essential in Overcoming Balance Sheet Recession.3. Monetary Policy Ineffective in Today's Japan.4. Conditions for Recovery.5. The Missing Link in Macroeconomics.6. Haste Ill-Advised in Disposing Non-Performing Loans.7. Understanding the Misunderstandings: The Real Story.8. Four Kinds of Banking Crises and the Role of the Blanket Guarantee.9. Real Challenges Facing Asian Economies.10. Japan's Lessons for the U.S. Economy.11. Real Challenges Facing Japan.Appendix 1: Summary of Balance Sheet Recession.Appendix 2:A Revisiting Money Supply, High-Powered Money andA Money Multiplier.Index.A

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