Regional Income Disparity and Fiscal-Monetary Policy: An Interregional Macroeconomic Model of Japan
AbstractIn this paper, first the authors present an interregional macroeconomic model of Japanese economy. Then, using the model, they examine how macro-stabilization policies affect regional income disparities. They show that according to their model, the regional income disparity becomes smaller both in the case of recession combined with balance of payments surplus under a fixed exchange rate regime, and in the case of recession combined with a strong Japanese Yen under a flexible exchange rate regime. Conversely, it becomes larger both in the case of expansion combined with balance of payments deficit under a fixed exchange rate regime, and in the case of expansion combined with a weak Japanese Yen under a flexible exchange rate regime. They also show that the results of their analyses are consistent with Japanese experiences during the last three decades.
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Bibliographic InfoArticle provided by Springer in its journal Annals of Regional Science.
Volume (Year): 26 (1992)
Issue (Month): 3 (September)
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Web page: http://link.springer.de/link/service/journals/00168/index.htm
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- Kano, Masaji & Tsutsui, Yoshiro, 2003. "Geographical segmentation in Japanese bank loan markets," Regional Science and Urban Economics, Elsevier, vol. 33(2), pages 157-174, March.
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