A Century of Japanese Business Cycles: Did Policy Stabilize Activity?
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...
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| Format: | Journal article |
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1991
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| _version_ | 1797078979931275264 |
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| author | Boltho, A |
| author_facet | Boltho, A |
| author_sort | Boltho, A |
| collection | OXFORD |
| description | 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 macroeconomic policy that through most of the past four decades played a pro- rather than a counter-cyclical role. |
| first_indexed | 2024-03-07T00:39:06Z |
| format | Journal article |
| id | oxford-uuid:826de49c-2559-4f83-9e35-9dce3d79df3a |
| institution | University of Oxford |
| last_indexed | 2024-03-07T00:39:06Z |
| publishDate | 1991 |
| record_format | dspace |
| spelling | oxford-uuid:826de49c-2559-4f83-9e35-9dce3d79df3a2022-03-26T21:37:20ZA Century of Japanese Business Cycles: Did Policy Stabilize Activity?Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:826de49c-2559-4f83-9e35-9dce3d79df3aDepartment of Economics - ePrints1991Boltho, AWhile 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 macroeconomic policy that through most of the past four decades played a pro- rather than a counter-cyclical role. |
| spellingShingle | Boltho, A A Century of Japanese Business Cycles: Did Policy Stabilize Activity? |
| title | A Century of Japanese Business Cycles: Did Policy Stabilize Activity? |
| title_full | A Century of Japanese Business Cycles: Did Policy Stabilize Activity? |
| title_fullStr | A Century of Japanese Business Cycles: Did Policy Stabilize Activity? |
| title_full_unstemmed | A Century of Japanese Business Cycles: Did Policy Stabilize Activity? |
| title_short | A Century of Japanese Business Cycles: Did Policy Stabilize Activity? |
| title_sort | century of japanese business cycles did policy stabilize activity |
| work_keys_str_mv | AT bolthoa acenturyofjapanesebusinesscyclesdidpolicystabilizeactivity AT bolthoa centuryofjapanesebusinesscyclesdidpolicystabilizeactivity |