Macroeconomic Policies in Japan

Faculty

H. Yoshikawa

Description

We first briefly review the history of post-war macroeconomic policies during the 1950's, 60's, 70's. We then go on to the 1980's when the sharp appreciation of the yen after the Plaza Agreement in the fall of 1985, and the subsequent asset price "bubbles" occured. The long-stagnation of the Japanese economy during the 1990's, and policy discussions during the same period are the major topics of this course. In particular, the zero-interest rate policy, unprecedented government deficits, and the "Koizumi structural reforms" are discussed in detail. We discuss not only economics but also political economy of policy makings.

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