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In search of "capital crunch" : supply factors behind the credit slowdown in Japan

Author: D Woo; International Monetary Fund. Monetary and Exchange Affairs Department.
Publisher: [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Department, ©1999.
Series: IMF working paper, WP/99/3.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
While the continuing stagnation of Japan's economy has for a number of years been at the center of public policy debat e, it has recently become, with the emergence of the Asian crisis, an issue of even more urgent concern. Although no consensus has yet been reached as to the means by which the Japanese economy may best be revived, it is generally agreed that standard macroeconomic policies have so far failed in  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Woo, D. (David).
In search of "capital crunch".
[Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Department, ©1999
(OCoLC)40756799
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: D Woo; International Monetary Fund. Monetary and Exchange Affairs Department.
ISBN: 1451890265 9781451890266 1281105937 9781281105936
ISSN:2227-8885
OCLC Number: 646850902
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. MiAaHDL
Description: 1 online resource (28 pages) : illustrations.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: IMF working paper, WP/99/3.
Responsibility: prepared by David Woo.

Abstract:

While the continuing stagnation of Japan's economy has for a number of years been at the center of public policy debat e, it has recently become, with the emergence of the Asian crisis, an issue of even more urgent concern. Although no consensus has yet been reached as to the means by which the Japanese economy may best be revived, it is generally agreed that standard macroeconomic policies have so far failed in turning the tide by effecting a sustained response. While fiscal stimulus in 1995 created a brief spell of growth in 1996 and in the first quarter of 1997, the economy slumped back sharply soon after the reversal of the stimulus in 1997. Monetary policy likewise appears to have had little impact on the stagnant economy, even with the already near zero nominal short-term interest rates.

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