Suchergebnisse

"This book covers the development of Economics in Japan from the inter-war period to the 2000s focusing on the international theoretical contributions of Japanese economists. The first focal point is the international contributions of Japanese economists before and after World War II. The second focal point is the controversies concerning Macroeconomic policies in Japan in the period of the "Great Depressions" in the 1930s and the period of Japanese "Great Stagnation" in the 1990s and the early 2000s. In short, economics in Japan is considered from both a theoretical and a policy-oriented point of view. The intimate relationship between economic theory, thought and policy is also fully examined, as well as the development of both academic and non-academic (practical) Japanese economics and the influence of Marx, Walras, Keynes, Fisher and Cassell."--

This book investigates, from a Keynesian perspective, the interaction of effective demand with the wage-price spiral, the dependence of goods market outcomes on financial markets, and the impact of monetary policy on financial and real markets. These issues are discussed by way of rigorously formulated approaches that lay foundations for a theory of endogenously generated business fluctuations. The material is presented on three levels of generality: an introductory level that motivates the theoretical approach, a research-oriented level that shows how the interaction of real with financial markets has to be modelled from an integrative Keynesian perspective, and an advanced textbook level that extends the traditional Keynesian approach to open economies. The main findings indicate that balanced growth in capitalist economies is unlikely due to changes in behavioural factors that drive the wage-price spiral and the financial markets. This book is essential reading for advanced level macroeconomic modules and for those interested in both traditional macroeconomics and the dominant neoclassical approach of the New Keynesians.

In August 2005, a small but important conference took place at Chuo University in Tokyo, Japan. The Chuo Meeting on Economics of Time and Space 2005 (Chuo METS 05) aimed to enrich the respective disciplines of the economics of time (dynamic economics) and the economics of space (spatial economics) and to expand their applicability in the real world. The chapters contained herein are based on the papers presented at that conference.

Simonian Bounded Rationality and Complex Behavioral Economics -- Different Modeling Approaches for Time Lag in a Monopoly -- Learning in Monopolies with Delayed Price Information -- Hotelling Duopoly Revisited -- Dynamic Oligopoly Model with Production Adjustment and Investment Costs -- A Non-Walrasian Microeconomic Foundation of the ``Profit Principle'' of Investment -- A Stylized Model for Long-run Index Return Dynamics -- The Stability of Normal Equilibrium Point and the Existence of Limit Cycles in a Simple Keynesian Macrodynamic Model of Monetary Policy -- Pathology in the Market Economy: Self-fulfilling Process to Chronic Slump -- Delay Kaldor-Kalecki Model Revisited -- An Alternative Proof of the Theorem of Woodford on the Existence of a Sunspot Equilibrium in a Continuous-Time Model -- Two Time Lags in the Public Sector: Macroeconomic Stability and Complex Behavior -- Liquidity Shock, Animal Spirits and Bank Runs -- Note on Stabilization Policy and Dynamic Inefficiency.