By 1981, Japan achieved both internal and external equilibrium; exports and imports roughly balanced at sixteen percent …

realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve … a percentage point of GDP. Taken together, these results indicate that a realignment of global growth -- with Japan and …

realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve … a percentage point of GDP. Taken together, these results indicate that a realignment of global growth -- with Japan and …

is driven by changes in investment opportunities. Using data for the United States and Japan, the authors find evidence …