Although there is now widespread agreement in the economics profession that discretionary counter-cyclical'fiscal policy has not contributed to economic stability and may have actually been destabilizing at particular times in the past, there is one important condition when discretionary fiscal...

Although there is now widespread agreement in the economics profession that discretionary counter-cyclical'fiscal policy has not contributed to economic stability and may have actually been destabilizing at particular times in the past, there is one important condition when discretionary fiscal...

Introduction / Koichi Hamada, Anil K Kashyap, and David E. Weinstein -- The Japanese asset price bubble : a heterogeneous approach / Robert Barsky -- Time of troubles : the yen and Japan's economy, 1985-2008 / Maurice Obstfeld -- The Japan-US exchange rate, productivity, and the competitiveness...