Japan's Financial Crisis and Its Parallels to U.S. Experience (Special Reports (Institute for International Economics (U.S.)), 13.)

Customer Reviews

If you want a rich and in depth - in some parts academic - account of why Japan is struggling then this is for you. There are four themes...1) the origin of Japan's banking problems 2)comparisons of Japan's banking problems and the US S&L crisis 3) political problems faced by those who wish to see the BOJ adopting very loose money and 4) how the BOJ's monetary policy can be adapted to these exceptional circumstances and used to promote a sustainable recovery.

If you read this and Posen's previous books on Japan you'll be well equipped to understand what is wrong with the world's second largest economy. The only weak area is the treatment of fiscal matters. Those are largely ignored, even though fears of government bankrupcty weigh heavily on the financial markets.

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