Structural Change in Japan: Macroeconomic Impact and Policy Challenges
Books, June 9, 1998
Source details
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- Structural Change in Japan: Macroeconomic Impact and Policy Challenges
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Bibliographic details
- Authors: Tamim Bayoumi, Guy M Meredith, Bijan B. Aghevli
- Published: June 9, 1998
- Series: Books
- DOI: https://doi.org/10.5089/9781557756961.071
Summary
- This volume, by Bijan B. Aghevli, Tamim Bayoumi, and Guy Meredith, is based on a seminar on structural change in Japan held in early 1997 and chaired by the IMF's First Deputy Managing Director, Stanley Fischer.
- Discussion of teh day-to-day management of the standard levers of fiscal and monetary policy is interlinked with consideration for the more deep-seated structural issues.
- By shifting and destabilizing the underlying economic relationships and creating uncertainty, structural change complicates the task of policy analysis.
- The volume describes how the IMF is responding to these challenges and how outside experts assess this effect.
Major themes and findings
- Structural change shifts and destabilizes underlying economic relationships, creating uncertainty for policy analysis.
- Interaction between standard fiscal and monetary policy management and deeper structural issues is central to understanding macroeconomic outcomes in Japan.
- The IMF’s response to structural change and external expert assessments are documented and analyzed in the volume.
Subject areas and keywords
- Subject: Balance of payments, Exchange rates, Expenditure, Financial services, Fiscal policy, Foreign direct investment, Foreign exchange, Real exchange rates, Real interest rates
- Keywords: anti-inflation credibility, Asia and Pacific, BOOK, East Asia, Exchange rates, FDI flow, FDI outflow, Foreign direct investment, Global, knowledgeable outsider, North America, Northern Europe, policy reaction function, Real exchange rates, Real interest rates, staff's analysis, Western Europe, yen