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The Holy Grail of Macroeconomics
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N.º de artículo de eBay:317040033965
Última actualización el 19 jul 2025 17:45:40 H.EspVer todas las actualizacionesVer todas las actualizaciones
Características del artículo
- Estado
- En muy buen estado
- Notas del vendedor
- “Jacketi n Very Good condition. No markings on text.”
- Book Title
- The Holy Grail of Macroeconomics: Lessons from Japan's Great R
- ISBN
- 9780470823873
Acerca de este producto
Product Identifiers
Publisher
Wiley & Sons, Incorporated, John
ISBN-10
0470823879
ISBN-13
9780470823873
eBay Product ID (ePID)
66111647
Product Key Features
Number of Pages
320 Pages
Publication Name
Holy Grail of Macroeconomics : Lessons from Japan's Great Recession
Language
English
Publication Year
2009
Subject
Economics / Macroeconomics
Type
Textbook
Subject Area
Business & Economics
Format
Hardcover
Dimensions
Item Height
1.1 in
Item Weight
18.4 Oz
Item Length
9.3 in
Item Width
6.3 in
Additional Product Features
Intended Audience
Scholarly & Professional
TitleLeading
The
Dewey Edition
22
Reviews
"As I have noted before, the best analysis of what happened to Japan is by Richard Koo" (Financial Times, February 18th 2009)
Illustrated
Yes
Dewey Decimal
339.0952
Table Of Content
Acknowledgments.Preface.Chapter 1. Japan's Recession.Chapter 2. Characteristics of Balance Sheet Recessions.Chapter 3. The Great Depression was a Balance Sheet Recession.Chapter 4. Monetary, Foreign Exchange, and Fiscal Policy During a Balance Sheet Recession.Chapter 5. Yin and Yang Economic Cycles and the Holy Grail of Macroeconomics.Chapter 6. Pressure of Globalization.Chapter 7. Ongoing Bubbles and Balance Sheet Recessions.Appendix. Thoughts on Walras and Macroeconomics.Index.
Synopsis
There will probably never be a last word on the Japanese financial catastrophe of the 1990s but Richard Koo's book may be the most significant analysis ever published. Agree or disagree, any analyst of the current United States situation must consider Koo's arguments. - Lawrence H. Summers Richard Koo does it again. By presenting a unique theory regarding the great Depression and Japan's recession of the last 15 years. Koo offers a new understanding of current problems in the U.S. and other economies. With many pearls of analytical wisdom, The Holy Grail of Macroeconomics: Lessons from Japan's great recession is a must-read for economist, policymakers and individual investors alike. - Nobuyuki Idei Richard Koo's pioneering work on balance-sheet recession has been invaluable in understanding the difficulty faced by Japan's economy and monetary authorities during the past 15 years. In this book, he has shown that the U.S. Great Depression was also driven by the same balance sheet concerns of the private sector, indicating that this kid of recession can happen to any post-bubble economy. I sincerely hope that the lessons contained in this book are put to good use in fighting similar recessions elsewhere, including the U.S. subprime crisis. - Yasushi Mieno The Holy Grail of Macroeconomics presents a brilliant and original framework for understanding-and overcoming-a post-bubble economic crisis such as the one the world faces today. By discrediting the conventional view that monetary policy is effective in combating a post-bubble recession, Richard Koo has made an invaluable contribution to economic theory and at just the right time. Only fiscal stimulus on a very large scale can prevent a severe global slump in the years ahead. This is an important book. It should be required reading for economic policy makers all around the world. - Richard Duncan, Japan's "Great Recession" lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US recession of the 1930s. The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings. This shift in corporate priority, however, has huge theoretical as well as practical implications and opens up a whole new field of study. For example, the new insight can explain fully the precise mechanism of prolonged depression and liquidity trap which conventional economics - based on corporate profit maximization - has so far failed to offer as a convincing explanation. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory, i.e., the Holy Grail of macro economics The policy implication of this new discovery is immense in that the conventional aversion to fiscal policy in favor of monetary policy will have to be completely reversed when the economy is in the yin phase. The theoretical implications are also immense in the sense that the economics profession will no longer have to rely so much on various rigidities to explain recessions that have become the standard practice within the so-called New Keynesian economics of the last twenty years., Japan's "Great Recession" lasted from approximately 1992 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US recession of the 1930s.
LC Classification Number
HC462.95
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- t***a (29)- Votos emitidos por el comprador.Últimos 6 mesesCompra verificadaThis item was listed as "very good" condition but it should have been listed as "like new" condition. I was very pleased to find the Bible had no writing in it, had a very clean leather cover and in fact looked like it had never been opened. The box was even in great shape on an item from 2013. The packaging could have gotten it to China and back without a scratch. It was shipped the same day as purchase. I love it and am very pleased with this seller.
Archives Books Inc
100% de votos positivos•273 mil artículos vendidos
Registrado como vendedor profesional
Votos de vendedor (164.830)
- z***e (49)- Votos emitidos por el comprador.Últimos 6 mesesCompra verificadaExcellent service! The item came exactly as described by the seller. It was a great value for the item. The packaging of the item was excellent! Also, excellent shipping! I was provided with tracking information, to let me know when the item is coming and when it came. And the item came before the delivery date!!! I highly recommend buying from this seller!The James Beard Cookbook by Dell Pubishing Co., Inc. (#395550333280)
- h***r (11)- Votos emitidos por el comprador.Últimos 6 mesesCompra verificadaItem arrived within expected window of delivery. It was packaged in such a way so that item would not damaged during shipping. Item was actually better than described in eBay ad. It had been described as "Very Good," but it actually could be described as "Fine," "NOS," or "Like New," because it looked like a brand new copy! Great value for the price. Very happy with my purchase experience with this seller.
- t***a (29)- Votos emitidos por el comprador.Últimos 6 mesesCompra verificadaThis item was listed as "very good" condition but it should have been listed as "like new" condition. I was very pleased to find the Bible had no writing in it, had a very clean leather cover and in fact looked like it had never been opened. The box was even in great shape on an item from 2013. The packaging could have gotten it to China and back without a scratch. It was shipped the same day as purchase. I love it and am very pleased with this seller.