This work proposes a new approach to macroeconomics which draws upon the experience of the Japanese economy. The approach is similar to the Old Keynesian view: it rejects the Walrasian approach, and singles out real demand as the fundamental determinant of output in the economy as a whole. However, by maintaining that real demand constraints are important not only in the short-run, but in the long-run as well, it goes beyond what is normally understood as the Keynesian approach. It is also very different from the New Keynesian Economics; in particular, it regards the rigidity of nominal wages/prices as of secondary importance. The work is extensively illustrated by almost 200 figures and tables of data.
Related books and articles
Japan in the Free World Economy: A Statement on National Policy by the Research and Policy Committee of the Committee for Economic Development By Keizai Doyukai; United Nations Environment Programme Committee for Economic Development, 1963
Public Policy and Economic Competition in Japan: Change and Continuity in Antimonopoly Policy, 1973-1995 By Michael L. Beeman Routledge, 2002
Progressive Capitalism, Crisis, and Class Struggle: Lessons from Japan's Production Control and Democracy Movements, 1945-47 By Burkett, Paul Hart-Landsberg, Martin Capital & Class, Spring 2003
Peer-reviewed publications on Questia are publications containing articles which were subject to evaluation for accuracy and substance by professional peers of the article's author(s).
Unfinished Business in the Macroeconomics of Low Inflation: A Tribute to George and Bill by Bill and George By Akerlof, George A. Dickens, William T. Brookings Papers on Economic Activity, No. 2, Fall 2007
Forecasting and Empirical Methods in Finance and Macroeconomics By Diebold, Francis X. NBER Reporter, Winter 1999
Macroeconomics - a European Text (Fourth Edition) by Michael Burda and Charles Wyplosz By West, Keith Teaching Business & Economics, Vol. 9, No. 2, Summer 2005
The Macroeconomics of Oil Shocks By Sill, Keith Business Review (Federal Reserve Bank of Philadelphia), Spring 2007
Emerging from Behind the U.S. Shield: Japan's Strategy of Dynamic Deterrence and Defense Forces By MacIntyre, Douglas John Joint Force Quarterly, No. 65, April 2012
European Economic & Monetary Union: ECB May Have to Act to Avoid Asian Epidemic; Will Euroland Catch Asian Flu, Asks John Hawksworth, Head of the Macroeconomics Unit at PricewaterhouseCoopers By Hawksworth, John The Birmingham Post (England), October 20, 1998
Risk Is on the Rise as the US Slows Down; the Latest Merseyside and North Wales Business Prospect, Published by the Liverpool Research Group in Macroeconomics, Is out This Week. Editors Patrick Minford and Peter Stoney Review the Outlook for the National and Local Economy IN ASSOCIATION WITH Rensburg Sheppards By Daily Post (Liverpool, England), July 2, 2008
America's 'Basic Framework' in Iraq; the Strategy to Halt the Creep of Islamization Is Missing By West, Diana The Washington Times (Washington, DC), February 15, 2008