In this book, experts in international economics analyze the synchronization of business cycles and their volatility. Based on this, they discuss the need and feasibility of internationally coordinating monetary, fiscal, and exchange rate policies

After experiencing spectacular economic growth and industrial development for much of the postwar era, Japan plunged abruptly into recession in the early 1990s and since then has suffered a prolonged period of economic stagnation, from which it is only now emerging. Japan's malaise, marked by...