Japan S Secular Stagnation And Beyond
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Japan S Secular Stagnation And Beyond
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Author : Radhika Desai
language : en
Publisher: Taylor & Francis
Release Date : 2023-05-08
Japan S Secular Stagnation And Beyond written by Radhika Desai and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-08 with Social Science categories.
This book re-visits the phenomenon of Japanese secular stagnation in light of the fate of the North Atlantic and developing economies and places it in a longer historical political and geopolitical economy of capitalism from a variety of political and disciplinary perspectives. Japanese capitalism, which was once an admired model of miraculous growth with a relatively egalitarian distribution of income, fell into secular stagnation in the early 1990s. The phenomenon has since fascinated observers, provoked debates, provided policy advocates with grist for the mills of a range of policy proposals, some of them mutually contradictory, and, most importantly, burdened an entire population, and particularly its young. Japan’s secular stagnation has raised new questions about policy difficulties on a range of fronts – dramatically lowered growth rate despite comparatively high investment, deteriorating labor conditions, rising class and gender inequality, a profound and many-faceted crisis of social reproduction and a deepening fiscal crisis of the state – all of which have important international ramifications. Moreover, interest in and the importance of Japan’s secular stagnation grew rapidly after 2008 as many have sought to understand the economic malaise of the North Atlantic by analogy and comparison with all or parts of the Japanese condition. The introduction and chapters in this book attempt to understand the causes, character and consequence of that original affliction. They also reflect on the meaning of Japan’s secular stagnation at this stage of development capitalism. The result contains the key to understanding the more widespread economic malaise of our time. This book will be a beneficial read for researchers and scholars of Economics and Politics interested in Japanese Studies as well as the Japanese political economy. Most of the chapters in this book were originally published as a special issue of The Japanese Political Economy. The last chapter was originally published in the Journal of Contemporary Asia.
Japan S Secular Stagnation And Beyond
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Author : Radhika Desai
language : en
Publisher: Routledge
Release Date : 2023-05
Japan S Secular Stagnation And Beyond written by Radhika Desai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05 with Japan categories.
This book re-visits the phenomenon of Japanese secular stagnation in light of the fate of the North Atlantic and developing economies and places it in a longer historical political and geopolitical economy of capitalism from a variety of political and disciplinary perspectives. Japanese capitalism, which was once an admired model of miraculous growth with a relatively egalitarian distribution of income, fell into secular stagnation in the early 1990s. The phenomenon has since fascinated observers, provoked debates, provided policy advocates with grist for the mills of a range of policy proposals, some of them mutually contradictory, and, most importantly, burdened an entire population, and particularly its young. Japan's secular stagnation has raised new questions about policy difficulties on a range of fronts - dramatically lowered growth rate despite comparatively high investment, deteriorating labor conditions, rising class and gender inequality, a profound and many-faceted crisis of social reproduction and a deepening fiscal crisis of the state - all of which have important international ramifications. Moreover, interest in and the importance of Japan's secular stagnation grew rapidly after 2008 as many have sought to understand the economic malaise of the North Atlantic by analogy and comparison with all or parts of the Japanese condition. The introduction and chapters in this book attempt to understand the causes, character and consequence of that original affliction. They also reflect on the meaning of Japan's secular stagnation at this stage of development capitalism. The result contains the key to understanding the more widespread economic malaise of our time. This book will be a beneficial read for researchers and scholars of Economics and Politics interested in Japanese Studies as well as the Japanese political economy. Most of the chapters in this book were originally published as a special issue of The Japanese Political Economy. The last chapter was originally published in the Journal of Contemporary Asia.
Japan S Secular Stagnation And Beyond
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Author :
language : en
Publisher:
Release Date : 2023
Japan S Secular Stagnation And Beyond written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with Japan categories.
This book re-visits the phenomenon of Japanese secular stagnation in light of the fate of the North Atlantic and developing economies and places it in a longer historical political and geopolitical economy of capitalism from a variety of political and disciplinary perspectives. Japanese capitalism, which was once an admired model of miraculous growth with a relatively egalitarian distribution of income, fell into secular stagnation in the early 1990s. The phenomenon has since fascinated observers, provoked debates, provided policy advocates with grist for the mills of a range of policy proposals, some of them mutually contradictory, and, most importantly, burdened an entire population, and particularly its young. Japan's secular stagnation has raised new questions about policy difficulties on a range of fronts - dramatically lowered growth rate despite comparatively high investment, deteriorating labor conditions, rising class and gender inequality, a profound and many-faceted crisis of social reproduction and a deepening fiscal crisis of the state - all of which have important international ramifications. Moreover, interest in and the importance of Japan's secular stagnation grew rapidly after 2008 as many have sought to understand the economic malaise of the North Atlantic by analogy and comparison with all or parts of the Japanese condition. The introduction and chapters in this book attempt to understand the causes, character and consequence of that original affliction. They also reflect on the meaning of Japan's secular stagnation at this stage of development capitalism. The result contains the key to understanding the more widespread economic malaise of our time. This book will be a beneficial read for researchers and scholars of Economics and Politics interested in Japanese Studies as well as the Japanese political economy. Most of the chapters in this book were originally published as a special issue of The Japanese Political Economy. The last chapter was originally published in theJournal of Contemporary Asia.
Secular Stagnation
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Author : Larry Summers
language : en
Publisher: Viking
Release Date : 2019-12
Secular Stagnation written by Larry Summers and has been published by Viking this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12 with categories.
The biggest economic debate of our time centres around one fundamental question: is the decreased growth in today's world economy a short-term glitch -- or is it part of a permanent spiral? Without an answer, we have no hope of steering our international economies back towards the growth they need. After the global financial crisis, Larry Summers, Harvard professor and former director of the White House National Economic Council, reintroduced into economic debate the concept of 'secular stagnation', arguing persuasively that we're stuck in a trap of persistent low growth and depressed employment. The causes are various, from new technologies that have shifted the economy to zero-cost designed goods, to interest rates that can't go lower than zero. Without bold government intervention, there's no way out. And there's no time to lose.
Demand And Supply
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Author : Jason Furman Chairman-Council of Economi
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2016-08-02
Demand And Supply written by Jason Furman Chairman-Council of Economi and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-02 with categories.
I will start by discussing the recovery in the advanced economies, focusing especially on the fiscal-policy experiences of the United States, Japan, and Europe. I will then go on to discuss two major structural issues: productivity and labor force participation. One issue that is especially important for the United States but is beyond the scope of my comments today is inequality, including its links to economic rents, which I have addressed elsewhere (CEA 2016a; Furman and Orszag 2015). It is important to note that this is an area where Japan has fared far better than the United States: while the share of income going to the top one percent of households in each country was comparable in 1975, Japan's has risen only slightly, while that of the United States has more than doubled, according to the most recently available data (WWID 2016). My argument will be that demand, productivity, and participation are related: the magnitude and composition of short-run demand can affect the supply side, including productivity and the labor force. At the same time, productivity and the labor force can themselves affect one another. Global conditions affect long-run equilibrium interest rates; technological progress is not entirely in our hands; and birth rates from past decades affect the size of the population in the future. But none of these changes represent our destiny, and rather than debating whether we are in an era of secular stagnation or lower productivity growth for the long term, the relevant question for policymakers is what we can do about it. And in that regard, I think the United States and Japan have much to learn from each others successes and challenges-both through more economic research like that discussed in today's conference, as well as through policymakers sharing views with one another.
The Impact Of Demographics On Productivity And Inflation In Japan
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Author : Mr.Niklas J Westelius
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-18
The Impact Of Demographics On Productivity And Inflation In Japan written by Mr.Niklas J Westelius and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-18 with Business & Economics categories.
Is Japan’s aging and, more recently, declining population hampering growth and reflation efforts? Exploiting demographic and economic variation in prefectural data between 1990 and 2007, we find that aging of the working age population has had a significant negative impact on total factor productivity. Moreover, prefectures that aged at a faster pace experienced lower overall inflation, while prefectures with higher population growth experienced higher inflation. The results give strong support to the notion that demographic headwinds can have a non-trivial impact on total factor productivity and deflationary pressures.
Compressed Development
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Author : D. Hugh Whittaker
language : en
Publisher: Oxford University Press
Release Date : 2020-09-15
Compressed Development written by D. Hugh Whittaker and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-15 with Business & Economics categories.
This book proposes a new way to approach comparative international development by focusing on time and timing in economic and social development. The UK industrialized over two centuries, and then started to de-industrialize in the late 1960s. Today, the most rapid developers experience aspects of industrialization and de-industrialization simultaneously. It is no longer clear that industrialization offers the path of growth it once did; industrialization has become 'thin.' Demographic and social challenges that earlier developers faced sequentially now come at the same time. Rapid growers experience compression most acutely, but the spatial and temporal fusing of past and present is widespread, affecting high-, middle-, and lower-income countries alike. Timing refers to the differences in historical periods in which development takes place. The geopolitical, institutional and technological environment for countries recently integrated into the global economy has been vastly different from that of the preceding postwar decades of 'embedded liberalism,' although it does contain echoes of the 'first globalization' and 'first financialization' a century ago. The first era of liberalism did not end well, and the second is similarly foundering on the rocks of nationalism and protectionism, as it is being battered by a global pandemic. The authors propose an interdisciplinary conceptual framework based on co-evolving state-market and organization-technology dyads, which will help readers make sense of contemporary development across multiple societies, sectors and geographies, and provide a template for historical comparison.
The Vanishing Middle Class New Epilogue
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Author : Peter Temin
language : en
Publisher: MIT Press
Release Date : 2018-03-09
The Vanishing Middle Class New Epilogue written by Peter Temin and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-09 with Business & Economics categories.
Why the United States has developed an economy divided between rich and poor and how racism helped bring this about. The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. Many poorer Americans live in conditions resembling those of a developing country—substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other—black, Latino, not like "us." Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.
Hysteresis And Business Cycles
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-29
Hysteresis And Business Cycles written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Business & Economics categories.
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Secular Stagnation Theories
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Author : Christina Anselmann
language : en
Publisher: Springer Nature
Release Date : 2020-04-17
Secular Stagnation Theories written by Christina Anselmann and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-04-17 with Business & Economics categories.
In light of weak economic performances and rising income disparities across the developed world during the past decades, this book provides a comprehensive overview of secular stagnation theories in the history of economic thought and examines the role of income distribution in various stagnation hypotheses. By offering a historical perspective, from the classical economists to the most recent stagnation debate of the early twenty-first century, the author shows that most stagnation theories were developed in periods of high and/or rising income disparities. Eventually, it was Josef Steindl, one of the least recognized stagnationists in the history of economic thought, who put the distribution of income at the heart of his stagnation theory. While Josef Steindl focused on the nexus between the functional distribution of income and economic growth, this book includes the personal distribution of income in a Kaleckian-Steindlian model of economic growth and stagnation. In the model presented, the nexus between economic growth and the distribution of income is a priori uncertain, depending on the type of economic shock and the specific economic circumstances. The author also discusses various empirically oriented policy implications aimed at fostering both economic growth and a more equal distribution of income. This book appeals to scholars in economics and the history of economic thought interested in economic growth, secular stagnation, and income distribution.