Strong money demand in financing war and peace : the cases of wartime contemporary Japan
著者
書誌事項
Strong money demand in financing war and peace : the cases of wartime contemporary Japan
(Advances in Japanese business and economics, 28)
Springer, c2021
大学図書館所蔵 全8件
  青森
  岩手
  宮城
  秋田
  山形
  福島
  茨城
  栃木
  群馬
  埼玉
  千葉
  東京
  神奈川
  新潟
  富山
  石川
  福井
  山梨
  長野
  岐阜
  静岡
  愛知
  三重
  滋賀
  京都
  大阪
  兵庫
  奈良
  和歌山
  鳥取
  島根
  岡山
  広島
  山口
  徳島
  香川
  愛媛
  高知
  福岡
  佐賀
  長崎
  熊本
  大分
  宮崎
  鹿児島
  沖縄
  韓国
  中国
  タイ
  イギリス
  ドイツ
  スイス
  フランス
  ベルギー
  オランダ
  スウェーデン
  ノルウェー
  アメリカ
注記
Includes bibliography (p. 191-198) and indexes
内容説明・目次
内容説明
This book theoretically and empirically investigates the emergence of strong money demand in wartime Japan (1937-1945), its disappearance after the end of the war (1945-1949), and the reemergence of strong money demand in contemporary Japan (from 1995 to the present) in terms of the effects on fiscal activities and the price level. An augmented fiscal/monetary theory of the price level is constructed from a close examination of the strong money demand present in these periods. Then, profoundly puzzling phenomena such as mild deflation despite monetary expansion, low long-term interest rates despite fiscal unsustainability, and weak aggregate demand despite near-zero rates of interest, all of which are actually being observed in contemporary Japan, can now be interpreted in line with the above augmented theory. In the present, strong money demand at near-zero rates endows the Japanese government with maximum fiscal flexibility. However, if it disappeared for some reason, prices would surge to the quantity theory of money level, and fiscal sustainability would have to be restored. In the future, alternative currency units issued by private banks might carry out a purge of such strong demand for the yen.
目次
PrefaceChapter 1: Long-Run Observations (the 1890s to the 2010s) and an Alternative Theory of the Price Level
Chapter 2: Demand for BOJ Notes from Black Markets under Price Controls (1937 to 1949)
Chapter 3: On Wartime Money Finance in the Japanese Occupied Territories (1942 to 1945)
Chapter 4: A Disequilibrium Analysis of a Lost Quarter Century (1995 to the 2010s)
Chapter 5: Long-Run Mild Deflation under Fiscal Unsustainability in Japan (the mid-1980s to the 2010s)
Chapter 6: Strong Money Demand and Emerging Cryptocurrencies
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