an influential policy maker. Dr. Osamu Shimomura is one of the most eminent economists in Japan. He entered the Ministry … pioneer works in macroeconomics, but also suits the economic conditions of Japan. Shimomura extends the principle of effective …

theory. Moreover, the author has also succeeds in capturing the concept of liquidity in a rigorous mathematical model. In … conjunction with the development of the concept of liquidity, the separation of the decision between savings and capital … despite the exorbitant expansionary monetary policy (ijigen kin-yuu seisaku) by the Bank of Japan. This phenomenon is an …