The Structure of the Japanese Economy

1. Front Matter

   Pages i-xvi

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2. The Japanese Economy in Transition: Introduction and Overview

   1. The Japanese Economy in Transition: Introduction and Overview

      • Mitsuaki Okabe

      Pages 1-21

3. The Japanese Firm and the Labour Market

   1. Front Matter

      Pages 23-23

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   2. Long-termism and the Japanese Firm

      • Paul Sheard

      Pages 25-52

   3. Financial Structure and Managerial Discretion in the Japanese Firm: An Implication of the Surge of Equity-related Bonds

      • Akiyoshi Horiuchi

      Pages 53-80

   4. An Analysis of Labour Mobility in Japan

      • Atsuhiro Taki, Toshiaki Tachibanaki

      Pages 81-108

   5. Is the Tenure-Earning Curve Really Steeper in Japan? A Re-examination Based on UK-Japan Comparison

      • Giorgio Brunello, Kenn Ariga

      Pages 109-131

4. Consumption, Saving, Investment and Growth

   1. Front Matter

      Pages 133-133

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   2. Consumer Behaviour in Japan under Financial Liberalization and Demographic Change

      • Wataru Takahashi, Yukinobu Kitamura

      Pages 135-167

   3. Saving, Investment, and Capital Mobility: Lessons from Japanese Inter-regional Capital Flows

      • Robert Dekle

      Pages 168-202

   4. High Economic Growth and Its End in Japan: An Explanation by a Model of Demand-led Growth

      • Hiroshi Yoshikawa

      Pages 203-232

5. The Financial Markets, Monetary Policy and the Policy Institutions

   1. Front Matter

      Pages 233-233

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   2. The Rise and Fall of the Bubble Economy: An Analysis of the Performance and Structure of the Japanese Stock Market

      • Fumiko Kon-ya

      Pages 235-262

   3. Bubbles, Bursts and Bailouts: A Comparison of Three Episodes of Financial Crises in Japan

      • Koichi Hamada

      Pages 263-286

   4. Evolution of the Main Bank System in Japan

      • Takeo Hoshi

      Pages 287-322

   5. Monetary Policy in Japan: A Perspective on Tools, Transmission Channels and Outcomes

      • Mitsuaki Okabe

      Pages 323-357

   6. The Bank of Japan and the Federal Reserve: Financial Liberalization, Independence, and Regulatory Responsibility

      • Thomas F. Cargill

      Pages 358-384

6. International Economic Relations

   1. Front Matter

      Pages 385-385

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   2. Is Japan Establishing a Trade Bloc in East Asia and the Pacific?

      • Jeffrey A. Frankel

      Pages 387-415

   3. Recent Balance of Payments Developments in Japan: Is the Current Account Surplus Structural or Temporary?

      • Mahito Uchida, Takashi Ui

      Pages 416-434

This book illuminates the characteristics of the Japanese economy comprehensively and analyses how and why they have been changing. The contributors to this fifteen-paper volume are internationally-known and leading researchers of the Japanese economy. Following the overview chapter, the book covers such areas as the Japanese firm, the labour market, consumption and saving patterns, financial markets, macroeconomic policies and international economic relations.

• consumer
• East Asia
• economic growth
• financial markets
• growth
• International Economic Relations
• Japan
• labor market
• macroeconomics
• mobility
• monetary policy

• Faculty of Policy Management, Keio University, Japan

  Mitsuaki Okabe

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