{"product_id":"the-holy-grail-of-macroeconomics-9780470824948","title":"The Holy Grail of Macroeconomics","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThe revised edition of this highly acclaimed work presents crucial lessons from Japan's recession that could aid the US and other economies as they struggle to recover from the current financial crisis. This book is about Japan's 15-year long recession and how it affected current theoretical thinking about its causes and cures.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eReviews from the previous edition\u003c\/b\u003e  \u003cp\u003e\"...provide fascinating insights into the problems of Japan...interesting thesis\" (\u003ci\u003eWilmott.com\/blogs\u003c\/i\u003e, August 2009)\u003c\/p\u003e \u003cp\u003e\"…the Japanese policymakers who told everyone the US was in danger of falling into a prolonged period of economic weakness were right. To understand why this is true, you need to read a brilliant book by Richard Koo of the Nomura Research Institute.\" (\u003ci\u003eFinancial Times\u003c\/i\u003e, January 2009)\u003c\/p\u003e \u003cp\u003e\"…the definitive book on Japan's decade-long recession in the 1990s.\" (\u003ci\u003eUSA Today\u003c\/i\u003e, March 2009)\u003c\/p\u003e \u003cp\u003e\"Books about the current global economic crisis are being written and published by the truckload. But few – perhaps none – are worth reading… Richard Koo, chief economist at the Nomura Research Institute in Tokyo, a think tank attached to Japan's biggest investment bank, watched Japan's 'lost decade' from an excellent vantage point: he was close enough to understand the detail, data and ways in which both corporate and political decisions were made, and independent enough to be able to analyse what happened in a reasonably detached and cool way.\" (\u003ci\u003eSurvival\u003c\/i\u003e, May 2009)\u003c\/p\u003e \u003cp\u003e\"A must-read to an understanding of what Japan went through and what the United States and Europe may experience is Koo's latest book \u003ci\u003eThe Holy Grail of Macroeconomics: Lessons from Japan's Great Recession\u003c\/i\u003e.\" (\u003ci\u003eThe Edge Financial Daily\u003c\/i\u003e, December 2008)\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eAcknowledgments ix\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eChapter 1 Japan’s Recession 1\u003c\/p\u003e \u003cp\u003eChapter 2 Characteristics of Balance Sheet Recessions 39\u003c\/p\u003e \u003cp\u003eChapter 3 The Great Depression was a Balance Sheet Recession 85\u003c\/p\u003e \u003cp\u003eChapter 4 Monetary, Foreign Exchange, and Fiscal Policy During a Balance Sheet Recession 125\u003c\/p\u003e \u003cp\u003eChapter 5 \u003ci\u003eYin \u003c\/i\u003eand \u003ci\u003eYang \u003c\/i\u003eEconomic Cycles and the Holy Grail of Macroeconomics 157\u003c\/p\u003e \u003cp\u003eChapter 6 Pressure of Globalization 185\u003c\/p\u003e \u003cp\u003eChapter 7 Ongoing Bubbles and Balance Sheet Recessions 221\u003c\/p\u003e \u003cp\u003eChapter 8 World in Balance Sheet Recession 253\u003c\/p\u003e \u003cp\u003eAppendix: Thoughts on Walras and Macroeconomics 295\u003c\/p\u003e \u003cp\u003eReferences and Bibliography 309\u003c\/p\u003e \u003cp\u003eIndex 321\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":48864639942999,"sku":"9780470824948","price":21.25,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780470824948.jpg?v=1722272849","url":"https:\/\/bookcurl.com\/products\/the-holy-grail-of-macroeconomics-9780470824948","provider":"Book Curl","version":"1.0","type":"link"}