The Contemporary Japanese Economy: An Overview
This volume provides a concise introduction to the workings of Japan's economy today. Using both macro- and microeconomic tools of analysis, the author, an eminent scholar and advisor on monetary policy, outlines the characteristics and activities of both the public and the private sectors. Rather than emphasizing Japan's "unique" features and their effect on economic processes, he uses the standard concepts of savings, investment, and productivity to analyze the behavior of markets and the roles of households, corporations, and government. Beginning with an outline of Japan's economic growth and development from the 1860s, when modernization began, to the 1990s, Prof. Tachi describes the shift away from "development-orientation" that is taking place in a nation adjusting to a new world order and to the bursting of the prosperity bubble of the 1980s.
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The Social Security System C123
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balance Bank of Japan began benefits bond issues capital coefficient caused central bank consumer prices consumption corporate costs countries country's current account decline deficits demand deposits dollar domestic economic growth effect Equation example exchange rates expected expenditures exports Figure financial assets financial institutions fiscal floating forced foreign exchange funds Gini coefficient growth rate high-growth period higher impact imports Income Redistribution increase industrial policy inflation rate interest rates investment Japanese economy JAPANESE FINANCIAL SYSTEM keiretsu Keynesian labor land prices loans long-term Meiji Meiji Restoration ment million money supply national income Note oil crisis payments Phillips curve Plaza Accord population postwar prices rise production public finance public pensions purchasing power parity redistribution result revenues savings sector short-term social security spending structure surplus Table technological progress term theory tion Tokyo trade trend unemployment rate United wholesale prices zaibatsu