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A Century of Japanese Business Cycles: Did Policy Stabilize Activity?

Abstract:

While Japan's postwar macroeconomic performance has been impressive, it is less so in the area of cyclical fluctuations--the improvement relative to the prewar period is modest, and the record vis-a-vis other major economies since the 1950s is poor. Diminished volatility in the 1950s and 1960s was due mainly to a stable world economy. Reasons for a relatively disappointing comparative outcome may have been a very high rate of fixed investment demand, which fluctuated sharply, and a macroecono...

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Authors


Andrea Boltho More by this author
Journal:
Journal of the Japanese and International Economies
Volume:
5
Publication date:
1991
URN:
uuid:826de49c-2559-4f83-9e35-9dce3d79df3a
Local pid:
oai:economics.ouls.ox.ac.uk:12748

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