The Political Economy of Japanese Monetary Policy

The Political Economy of Japanese Monetary Policy

by Thomas F. Cargill, Michael M. Hutchison, Takatoshi Ito
     
 

ISBN-10: 0262032473

ISBN-13: 9780262032476

Pub. Date: 08/08/1997

Publisher: MIT Press

In The Political Economy of Japanese Monetary Policy, Cargill, Hutchison, and Ito investigate the formulation and execution of monetary and financial policies in Japan within a broad technical, political, and institutional context. Their emphasis is on the period since the early 1970s, when the Bretton Woods system of fixed exchange rates collapsed, and on how…  See more details below

Overview

In The Political Economy of Japanese Monetary Policy, Cargill, Hutchison, and Ito investigate the formulation and execution of monetary and financial policies in Japan within a broad technical, political, and institutional context. Their emphasis is on the period since the early 1970s, when the Bretton Woods system of fixed exchange rates collapsed, and on how policies and institutions have shaped the modern Japanese economy. In addition to presenting basic themes, recent developments, and their own research findings, they review and integrate the large literature, considering theoretical arguments and empirical evidence.

Product Details

ISBN-13:
9780262032476
Publisher:
MIT Press
Publication date:
08/08/1997
Edition description:
New Edition
Pages:
246
Product dimensions:
6.30(w) x 9.10(h) x (d)

Table of Contents

Acknowledgments
1Introduction1
2The Evolution of Central Banking in Japan, up to the 1950s9
3Phases of Japan's Monetary-Policy Experience27
4Exchange Rates, Policy Coordination, and a Yen Currency Area61
5The Bubble Economy and Its Collapse91
6Asset-Price Deflation: Nonperforming Loans, Jusen Companies, and Regulatory Inertia117
7Elections, Monetary Policy, and Political Business Cycles145
8Inflation, Time Inconsistency, and Central-Bank Independence171
9Concluding Comments195
Notes205
References221

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