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An entirely new approach to analyzing the economic problemsof today's advanced countries, from a leading economist
The Other Half of Macroeconomics and the Fate of Globalization presents a totally new approach to macroeconomics that offers a solution to the challenges of stagnation and worsening inequality that trouble so many advanced countries.
Since the Great Recession of 2008, most of the developed world has been mired in stagnation. The repeated failures of central banks and governments to meet inflation or growth targets despite truly exorbitant levels of monetary accommodation have left the public justifiably suspicious of the establishment and its economists.
Richard C. Koo, a noted thought leader in economics and creator of the concept of balance sheet recessions ? which triggered the current focus on debt in global policy debate?introduces the insightful new concept of pursued economies in this book. This concept shows that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development It also identifies the core drivers of the economic and political predicaments advanced nations face today and shows how these countries can move forward in the new global environment.
An entirely new approach to analyzing the economic problemsof today's advanced countries, from a leading economist
The Other Half of Macroeconomics and the Fate of Globalization presents a totally new approach to macroeconomics that offers a solution to the challenges of stagnation and worsening inequality that trouble so many advanced countries.
Since the Great Recession of 2008, most of the developed world has been mired in stagnation. The repeated failures of central banks and governments to meet inflation or growth targets despite truly exorbitant levels of monetary accommodation have left the public justifiably suspicious of the establishment and its economists.
Richard C. Koo, a noted thought leader in economics and creator of the concept of balance sheet recessions ? which triggered the current focus on debt in global policy debate?introduces the insightful new concept of pursued economies in this book. This concept shows that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development It also identifies the core drivers of the economic and political predicaments advanced nations face today and shows how these countries can move forward in the new global environment.
RICHARD C. KOO is the Chief Eco-nomist of Nomura Research Institute, where he is responsible for providing independent economic and market analysis to Nomura Securities, the leading securities house in Japan, and its clients. Best known for his theory of balance sheet recessions, Koo has advised several Japanese prime ministers over the last thirty years, and for the past ten years, he has advised numerous Western governments and central banks on how best to address post-bubble economic and banking problems. Before joining Nomura in 1984, Richard, a US citizen, was an economist with the Federal Reserve Bank of New York. Prior to that, he was a Doctoral Fellow of the Board of Governors of the Federal Reserve System. In addition to being one of the first non-Japanese to participate in the development of Japan's five-year economic plan, he taught at Waseda University in Tokyo as a visiting professor and is now a Senior Advisor to the Center for Strategic and International Studies in Washington, D.C.
Preface ix
About the Author xiii
Chapter 1 Introduction to the Other Half of Macroeconomics 1
Chapter 2 Balance Sheet Problems Create Shortage of Borrowers 17
Chapter 3 Dearth of Investment Opportunities Can Deter Borrowers 53
Chapter 4 Macroeconomic Policy During the Three Stages of Economic Development 83
Chapter 5 Challenges of Remaining an Advanced Country 107
Chapter 6 Helicopter Money and the QE Trap 127
Chapter 7 Europe Repeating Mistakes of 1930s 169
Chapter 8 Banking Problems in the Other Half of Macroeconomics 195
Chapter 9 The Trump Phenomenon and the Conflict Between Free Capital Flows and Free Trade 225
Chapter 10 Rethinking Economics 257
References & Bibliography 281
Afterword 287
Index 289
| Erscheinungsjahr: | 2018 |
|---|---|
| Fachbereich: | Volkswirtschaft |
| Genre: | Importe, Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Buch |
| ISBN-13: | 9781119482154 |
| ISBN-10: | 1119482151 |
| Sprache: | Englisch |
| Einband: | Gebunden |
| Autor: | Koo, Richard C |
| Hersteller: | Wiley |
| Verantwortliche Person für die EU: | Produktsicherheitsverantwortliche/r, Europaallee 1, D-36244 Bad Hersfeld, gpsr@libri.de |
| Maße: | 233 x 154 x 27 mm |
| Von/Mit: | Richard C Koo |
| Erscheinungsdatum: | 23.04.2018 |
| Gewicht: | 0,595 kg |
RICHARD C. KOO is the Chief Eco-nomist of Nomura Research Institute, where he is responsible for providing independent economic and market analysis to Nomura Securities, the leading securities house in Japan, and its clients. Best known for his theory of balance sheet recessions, Koo has advised several Japanese prime ministers over the last thirty years, and for the past ten years, he has advised numerous Western governments and central banks on how best to address post-bubble economic and banking problems. Before joining Nomura in 1984, Richard, a US citizen, was an economist with the Federal Reserve Bank of New York. Prior to that, he was a Doctoral Fellow of the Board of Governors of the Federal Reserve System. In addition to being one of the first non-Japanese to participate in the development of Japan's five-year economic plan, he taught at Waseda University in Tokyo as a visiting professor and is now a Senior Advisor to the Center for Strategic and International Studies in Washington, D.C.
Preface ix
About the Author xiii
Chapter 1 Introduction to the Other Half of Macroeconomics 1
Chapter 2 Balance Sheet Problems Create Shortage of Borrowers 17
Chapter 3 Dearth of Investment Opportunities Can Deter Borrowers 53
Chapter 4 Macroeconomic Policy During the Three Stages of Economic Development 83
Chapter 5 Challenges of Remaining an Advanced Country 107
Chapter 6 Helicopter Money and the QE Trap 127
Chapter 7 Europe Repeating Mistakes of 1930s 169
Chapter 8 Banking Problems in the Other Half of Macroeconomics 195
Chapter 9 The Trump Phenomenon and the Conflict Between Free Capital Flows and Free Trade 225
Chapter 10 Rethinking Economics 257
References & Bibliography 281
Afterword 287
Index 289
| Erscheinungsjahr: | 2018 |
|---|---|
| Fachbereich: | Volkswirtschaft |
| Genre: | Importe, Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Buch |
| ISBN-13: | 9781119482154 |
| ISBN-10: | 1119482151 |
| Sprache: | Englisch |
| Einband: | Gebunden |
| Autor: | Koo, Richard C |
| Hersteller: | Wiley |
| Verantwortliche Person für die EU: | Produktsicherheitsverantwortliche/r, Europaallee 1, D-36244 Bad Hersfeld, gpsr@libri.de |
| Maße: | 233 x 154 x 27 mm |
| Von/Mit: | Richard C Koo |
| Erscheinungsdatum: | 23.04.2018 |
| Gewicht: | 0,595 kg |
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