Edited by Takatoshi Ito, Hugh Patrick, and David Weinstein.
Reviving Japan’s Economy: Problems and Prescriptions is a collection of papers that have grown out of a two-year research program initiated and sponsored by the Center on the Japanese Economy and Business of Columbia University and Research Center for Advanced Science and Technology of University of Tokyo.
In Reviving Japan’s Economy, 16 top American and Japanese experts analyze Japan's underperforming economy, develop and recommend policy solutions aimed at achieving Japan's growth potential, improving the quality of life for the Japanese people, and strengthening Japan's contribution to the global economy.
The contributing authors examine such topics as the long-term economic demographic, social, and political transformation now underway in Japan; the costs of the long economic malaise; lessons for the United States from Japan's post-bubble mistakes; aggregate demand and macroeconomic policy; monetary policy; financial system difficulties; issues facing the Japanese labor market; corporate restructuring and financing; and Japan's new trade policy.
The feasible, optimal policy solutions offered in this book aim to prompt a revival of Japan's long-run economic vitality. The chapters have been published in both English and Japanese by MIT Press and Nikkei.
The eleven chapters include:
- Chapter 1 Solutions for the Japanese Economy: An Overview Takatoshi Ito (University of Tokyo) and Hugh Patrick (Columbia University)
- Chapter 2 Happy News from the Dismal Science: Reassessing Japanese Fiscal Policy and Sustainability David Weinstein (Columbia University) and Christian Broda (University of Chicago)
- Chapter 3 Lost Decade in Translation: Has U.S. Learned from Japan’s Post Bubble Mistakes? James Harrigan (Federal Reserve Bank of Japan) and Kenneth Kuttner (Oberlin College)
- Chapter 4 Monetary Policy in Japan: Problems and Solutions Takatoshi Ito (University of Tokyo) and Frederic Mishkin (Columbia University)
- Chapter 5 Solutions to Japan’s Banking Problems: What might work and what definitely will fail Takeo Hoshi (University of California, San Diego) and Anil K. Kashyap (University of Chicago)
- Chapter 6 Government Financial Institutions: What and How to Reform Takero Doi (Keio University)
- Chapter 7 Fixing Japanese Life-Insurance Companies Mitsuhiro Fukao (Keio University)
- Chapter 8 Corporate Investment and Restructuring Tokuo Iwaisako (Hitotsubashi University)
- Chapter 9 Changing Capital Markets: The Corporate Bond Market and Credit Risk Mariko Fujii (University of Tokyo)
- Chapter 10 Issues Facing the Japanese Labor Market Masanori Hashimoto (Ohio State University) and Yoshio Higuchi (Keio University)
- Chapter 11 Free Trade Agreements: A Catalyst for Japan’s Economic Revitalization Shujiro Urata (Waseda University)
Nikkei published the Japanese version titled: ポスト平成不況の日本経済：政策志向アプローチによる分析 (Post Heisei-Fukyou no Nihon-keizai: Seisaku-Shikou Approach ni-yoru Bunseki) in September 2005.
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