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This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three "economic arrows" targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy. This article focuses on Abenomics and shows...
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stagnation and chronic deflation, with the aim of identifying the mechanism of such processes and drawing lessons for future … include “Capital Account Liberalization: Japan’s Experience and Implications for China” in Capital Account Liberalization in … China: The Need for a Balanced Approach (2014), “Bretton Woods Institutions and Japan’s Response-Past, Present and the …
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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...
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