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The Holy Grail of Macroeconomics – Lessons From Japan′S Great Recession (Revised Edition) de RC Koo

The Holy Grail of Macroeconomics – Lessons From Japan′S Great Recession (Revised Edition)

Autor RC Koo
en Limba Engleză Paperback – 13 iul 2009

The revised edition of this highly acclaimed work presents crucial lessons from Japan's recession that could aid the US and other economies as they struggle to recover from the current financial crisis.

This book is about Japan's 15-year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked.

The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory- The Holy Grail of Macro Economics

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Specificații

ISBN-13: 9780470824948
ISBN-10: 0470824948
Pagini: 368
Dimensiuni: 151 x 228 x 27 mm
Greutate: 0.54 kg
Ediția:Revised Edition
Editura: Wiley
Locul publicării:Singapore, Singapore

Public țintă

Primary Market
Those who deal with macro economic issues such as central bankers, investors and academics should find the book interesting.  The reaction from the academic community could be particularly strong.  Those who have interest in Japan will also find the book useful. Secondary Market
Students of Great Depression and those with interest in economic and financial history.

Textul de pe ultima copertă

THE HOLY GRAIL OF MACROECONOMICS
LESSONS FROM JAPAN'S GREAT RECESSION
"...any analyst of the current United States situation must consider koo's argument."
--Lawrence H. Summers, Director, National Economic Council
... the Japanese policymakers who (said) the U.S. was in danger of falling into a prolonged period of economic weakness were right. To understand why ... you need to read a brilliant book by Richard Koo ...
Martin Wolf
Financial Times
There will probably never be a last word on the Japanese financial catastrophe of the 1990s but Richard Koo's book may be the most significant analysis ever published. Agree or disagree, any analyst of the current United States situation must consider Koo's arguments.
Lawrence H. Summers
Director, National Economic Council
Former President, Harvard University and the U.S. Secretary of the Treasury
Richard Koo does it again. By presenting a unique theory regarding the Great Depression and Japan's recession of the last 15 years, Koo offers a new understanding of current problems in the U.S. and other economies. With many pearls of analytical wisdom, The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession is a must-read for economists, policymakers and individual investors alike.
Nobuyuki ldei
Founder & CEO, Quantum Leaps Corporation
Former Chairman & CEO, Sony Corporation
Richard Koo's pioneering work on balance-sheet recession has been invaluable in understanding the difficulty faced by Japan's economy and monetary authorities during the past 15 years. In this book, he has shown that the U.S. Great Depression was also driven by the same balance sheet concerns of the private sector, indicating that this kind of recession can happen to any post-bubble economy. I sincerely hope that the lessons contained in this book are put to good use in fighting similar recessions elsewhere, including the U.S. subprime crisis.
Yasushi Mieno
Former Governor, Bank of Japan
The Holy Grail of Macroeconomics presents a brilliant and original framework for understanding--and overcoming--a post-bubble economic crisis such as the one the world faces today. By discrediting the conventional view that monetary policy is effective in combating a post-bubble recession, Richard Koo has made an invaluable contribution to economic theory and at just the right time.
Richard Duncan
Author, The Dollar Crisis: Causes, Consequences, Cures
Partner, Blackhorse Asset Management

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