. However, Japan started at a lower level than Britain and grew more slowly until the Meiji Restoration. …

This paper uses vector autoregressions to examine the monetary transmission mechanism in Japan. The empirical results …

Should one think of zero nominal interest rates as an undesirable liquidity trap or as the desirable Friedman rule? I …-sitting coop’ model implies multiple equilibria, but does not support the injection of liquidity to restore the good equilibrium …

. Results are presented for the United States, Japan, and an aggregate called "Europe" consisting of eleven European economies … indices for Japan and Europe. If anything, real wages in Europe and Japan were too flexible rather than too rigid, in the … sense that much of the increase in wage gap indices in Europe during 1968-70 and in Japan in 1973-74 can be interpreted as …

experiences of Germany and Japan during periods when their exchange rates have apparently been undervalued and the more general …

This paper considers the Great Inflation of the 1970s in Japan and Germany. From 1975 onward these countries had low … Japan and Germany’s monetary authorities - for example, more willingness to accept temporary unemployment, or stronger …

Using data for the 1990s, this Paper examines the role of sheepskin effects in the returns to education for Japan. Our … the US. These results could be explained by the particular recruitment system of large firms in Japan, which makes the …

: comparison with Japan, comparison with the New Economic Policy (NEP), and assuming alternative post-1940 growth scenarios. …