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, prominent scholars from the United States, Europe, and Japan, distinguish four explanations for this historic shift. These …
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Deflation has emerged as a new concern for Asian policy makers. The traditional view is that deflation can lead to a vicious cycle of falling demand and prices, and is thus a dangerous condition. However, another school of thought emphasizes the role of positive supply shocks and takes a more...
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Japan's dramatic transformation from economic success to economic stagnation offers important policy lessons to … trends experienced by Japan? This judicious volume investigates in depth the causes of Japan's 'lost decades' versus the real … differences between the Korean and Japanese economies, and examine policy measures taken by Japan during the lost decades. From …
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This paper evaluates explanations for China's growth slowdown. The natural tendency for rapidly growing economies to slow down is a major factor, along with problems bequeathed by unbalanced growth, including a declining ICOR, slowing total factor productivity growth, and rising indebtedness. A...
Persistent link: https://www.econbiz.de/10014496702
We evaluate explanations for why Germany grew so quickly in the 1950s. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the postwar shock. We show that this shock and its consequences were more important than...
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