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The Japanese Economy

Author

Listed:
  • Takatoshi Ito

    () (University of Tokyo)

Abstract

A comparative perspective and an analytic approach grounded in mainstream economics distinguish this broad, accessible introduction to the Japanese economy. Throughout, Ito utilizes standard economic concepts in comparing Japan with the United States in terms of economic performances, underlying institutions, and government policies. Referring to cultural factors where appropriate, Ito subjects the basic facts about the Japanese economy to modern theoretical and empirical scrutiny, discussing macroeconomic growth, business cycles, monetary and fiscal policies, industrial structures and policies, the labor market, saving and investment, and international trade and finance. Ito reviews relevant aspects of Japan's history before launching into a broad analysis of the country's markets and its economic policies. He concludes with a look at such contemporary economic issues as the Japanese distribution system, Japanese asset prices, and US-Japan trade conflicts.

Suggested Citation

  • Takatoshi Ito, 1991. "The Japanese Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262090295, January.
  • Handle: RePEc:mtp:titles:0262090295
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Takatoshi Ito & Michael Melvin, 1999. "Japan's Big Bang and the Transformation of Financial Markets," NBER Working Papers 7247, National Bureau of Economic Research, Inc.
    2. Kazuo Ogawa & Elmer Sterken & Ichiro Tokutsu, 2005. "Bank Control and the Number of Bank Relations of Japanese Firms," CESifo Working Paper Series 1589, CESifo Group Munich.
    3. Woon Gyu Choi & David Cook, 2006. "Stock Market Liquidity and the Macroeconomy: Evidence from Japan," NBER Chapters,in: Monetary Policy with Very Low Inflation in the Pacific Rim, NBER-EASE, Volume 15, pages 309-340 National Bureau of Economic Research, Inc.
    4. Cargill, Thomas, 2004. "Japan’s Economic and Financial Stagnation and the Possibility of a Second Lost Decade," EIJS Working Paper Series 199, Stockholm School of Economics, The European Institute of Japanese Studies.
    5. Maurice Obstfeld & Alan M. Taylor, 1998. "The Great Depression as a Watershed: International Capital Mobility over the Long Run," NBER Chapters,in: The Defining Moment: The Great Depression and the American Economy in the Twentieth Century, pages 353-402 National Bureau of Economic Research, Inc.
    6. Edward B. Montgomery, 1993. "Pattern in Regional Labor Market Adjustment: The United States vs. Japan," NBER Working Papers 4414, National Bureau of Economic Research, Inc.
    7. Derek C. Jones & Takao Kato & Jeffrey Pliskin, 1994. "Profit Sharing and Gainsharing: A Review of Theory, Incidence, and Effects," Economics Working Paper Archive wp_125, Levy Economics Institute.
    8. Takatoshi Ito & Frederic S. Mishkin, 2006. "Two Decades of Japanese Monetary Policy and the Deflation Problem," NBER Chapters,in: Monetary Policy with Very Low Inflation in the Pacific Rim, NBER-EASE, Volume 15, pages 131-202 National Bureau of Economic Research, Inc.
    9. Takatoshi Ito & Tokuo Iwaisako, 1996. "Explaining Asset Bubbles in Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 14(1), pages 143-193, July.
    10. Takatoshi Ito, 2004. "Inflation Targeting and Japan: Why has the Bank of Japan not Adopted Inflation Targeting?," RBA Annual Conference Volume,in: Christopher Kent & Simon Guttmann (ed.), The Future of Inflation Targeting Reserve Bank of Australia.
    11. Milgrom, Paul & Roberts, John, 1994. "Complementarities and systems: Understanding japanese economic organization," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 9(1), pages 3-42.
    12. Kozo Kiyota, 2007. "On Testing the Law of Comparative Advantage," Working Papers 556, Research Seminar in International Economics, University of Michigan.
    13. Yochanan Shachmurove, "undated". "Japan's Enigmatic Coexistence of Strong Currency and Trade Surplus," Penn CARESS Working Papers 5aea5a272528672c53ab198e3, Penn Economics Department.
    14. John A. Weinberg, 2002. "Imperfect competition and the pricing of interbank payment services," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 51-66.
    15. Eichengreen, Barry & Hatase, Mariko, 2007. "Can a rapidly growing export-oriented economy exit smoothly from a currency peg? Lessons from Japan's high-growth era," Explorations in Economic History, Elsevier, vol. 44(3), pages 501-521, July.
    16. Toshitaka Sekine & Yuki Teranishi, 2008. "Inflation Targeting and Monetary Policy Activism," IMES Discussion Paper Series 08-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
    17. Takatoshi Ito & Keiko Nosse Hirono, 1993. "Efficiency of the Tokyo Housing Market," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 11(1), pages 1-32, July.
    18. Anton Braun, R. & Esteban-Pretel, Julen & Okada, Toshihiro & Sudou, Nao, 2006. "A comparison of the Japanese and U.S. business cycles," Japan and the World Economy, Elsevier, vol. 18(4), pages 441-463, December.
    19. Nakajima, Tomoyuki, 2008. "Asset price fluctuations in Japan: 1980-2000," Japan and the World Economy, Elsevier, vol. 20(1), pages 129-153, January.
    20. Hamada, Koichi & Okada, Yasushi, 2009. "Monetary and international factors behind Japan's lost decade," Journal of the Japanese and International Economies, Elsevier, vol. 23(2), pages 200-219, June.
    21. Karyotis, Catherine & Alijani, Sharam, 2016. "Soft commodities and the global financial crisis: Implications for the economy, resources and institutions," Research in International Business and Finance, Elsevier, vol. 37(C), pages 350-359.
    22. Ian H.K. Leow, 2004. "A Simple Dynamic Model of Big-push," Econometric Society 2004 Australasian Meetings 218, Econometric Society.

    More about this item

    Keywords

    japanese economy; government policies; economic performance;

    JEL classification:

    • F0 - International Economics - - General
    • F1 - International Economics - - Trade
    • F3 - International Economics - - International Finance
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • L0 - Industrial Organization - - General
    • J0 - Labor and Demographic Economics - - General

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