This book, by a staff team headed by Yusuke Horiguchi, examines U.S. economic policy and performance in the 1980s, during which the United States enjoyed its longest peacetime expansion. Notwithstanding the buoyant growth and declines in inflation, the economy experienced low savings, current...

This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that there is...

Intro -- Contents -- Preface -- 1 Overview -- I. Explaining the 1990s -- 2 The Morning After: Explaining the Slowdown in Japanese Growth -- 3 Identifying the Shocks: Japan's Economic Performance in the 1990s -- 4 Explaining the Slump in Japanese Business Investment -- 5 Where Are We Going? The...

One of the key concerns associated with large deficit spending is unfair debt burden to be born by future generations that such spending gives rise to. Massive pandemic relief spending financed by debt in the US in the past several months, as expected, has raised serious concerns about its...