Japan’s Long Stagnation, Deflation, and Abenomics: Mechanisms and Lessons
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This book examines the struggles of the Japanese economy over the last 30 years, analyzing in detail the formation of the huge economic bubble in the 1980s, its collapse at the beginning of the 1990s, and subsequent two decade long economic stagnation and chronic deflation, with the aim of identifying the mechanism of such processes and drawing lessons for future economic policy management. The book also assesses the comprehensive policy efforts called “Abenomics” under the current Abe administration. As Abe continues into a new term, this book will be of interest to Japan scholars, economists, and policymakers around the world, particularly in Asia. Front Matter ....Pages i-xxiv Introduction: Objectives and Main Arguments of the Book (Kenji Aramaki)....Pages 1-32 Formation of a Bubble and Its Background (Kenji Aramaki)....Pages 33-82 Collapse of the Bubble and the Start of the Long Stagnation (Kenji Aramaki)....Pages 83-127 The Financial Crisis and Its Impacts, Long Recovery, and Afterward (Kenji Aramaki)....Pages 129-188 Deflation and Monetary Policy (Kenji Aramaki)....Pages 189-220 Deflation and the Mechanism of Corporate Behavior (Kenji Aramaki)....Pages 221-284 Abenomics and Challenges for the Japanese Economy (Kenji Aramaki)....Pages 285-340 Back Matter ....Pages 341-367
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