The evolution of the rate of price inflation, (t), and unemployment, u(t), in Japan has been modeled within the Phillips curve framework. As an extension to the Phillips curve, we represent both variables as linear functions of the change rate of labor force. All models were first estimated...

Abstract The last decade has witnessed a growing debate on both sides of the Atlantic on the effectiveness of the stock market based financial systems of the U.S. and the U.K. for promoting international competitiveness and industrial strength. The two countries share a broadly common framework...

Abstract The East Asian countries have achieved a spectacular average rate of economic growth over the last 30 to 40 years, with very substantial diversification and economic development. Korea, for example, managed to transform itself from being a largely agricultural society in 1960 to the...

Abstract Following closely my remit, this paper reviews and assesses Asian economic development in the recent post-1980 period, as well as over the somewhat longer time-span since WWII. Its chief purpose is to draw analytical and policy implications from this experience. This is a challenging...

Past and future evolution of inflation, p(t), and unemployment, UE(t), in Japan is modeled. Both variables are represented as linear functions of the change rate of labor force level. These models provide an accurate description for disinflation in the 1990s and deflationary period in the 2000s....

The Japanese economic behavior is modeled. GDP evolution is represented as a sum two components: economic tend and fluctuations. The trend is an inverse function of GDP per capita with a constant numerator. The growth rate fluctuations are numerically equal to two thirds of the relative change...