Despite the ongoing worldwide trend toward regional integration, Japan has remained outside of all regional trading … agreements. Because more than 60 percent of Japan’s trade is with countries that are members of a major regional bloc, this … reluctance may have had significant effects on its pattern and volume of trade. Indeed, the author finds that Japan’s exports …

regional production in Japan. We find support for the existence of economic geography effects in eight of nineteen …

oligopolistic macroeconomics of Germany and Japan. …

. Motivated by Japan’s recent economic experience, we use a dynamic general-equilibrium model to assess the welfare impact of open …-market operations for an economy in Japan’s predicament. We argue that Japan can achieve a substantial welfare improvement through large …