The Holy Grail of Macroeconomics 在线电子书 图书标签: 经济学 日本 经济 金融 宏观经济 经济史 经济危机 日本经济
发表于2025-03-16
The Holy Grail of Macroeconomics 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2025
I have read and researched extensively in the field of Macro Economics. What I have in mind is to have a framework to integrate elements concerning real economy and financial markets, designs of monetary and financial hierarchy, global money flow, roles of different currencies, and impacts on risk premiums by various monetary and fiscal policies, e
评分神作!神作!神作!
评分I have read and researched extensively in the field of Macro Economics. What I have in mind is to have a framework to integrate elements concerning real economy and financial markets, designs of monetary and financial hierarchy, global money flow, roles of different currencies, and impacts on risk premiums by various monetary and fiscal policies, e
评分论点非常清晰。Asset decline causes asset < liabilities, forcing companies to pay down debt rather than borrow. During balance sheet recession, monetary policy will be counterproductive and the government has to embark on fiscal policy. 不足之处有二:1. 后几章有些啰嗦了;2. 没有讲明白政府要如何在经济复苏后减少债务。
评分感觉这个论点只适用于日本
辜朝明,日本首屈一指的证券公司——野村证券旗下的研究机构野村综合研究所的首席经济学家,连续近10年被日本资本和金融市场人士选为最受信赖的经济学家之一,并为日本历届首相就如何应对日本经济与银行问题提供咨询。
进入野村证券之前,他作为经济学家任职于纽约联邦储备银行,获得过美国联邦储备委员会理事会博士会员的荣誉。他著述良多,同时也是早稻田大学客座教授,2001年被美国商业经济学会授予艾布拉姆逊奖。他同时还是“商业周刊在线”的专栏作家以及日本内阁防务战略会议的唯一一位非日本籍委员。
在线阅读本书
Japan's "Great Recession" lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US recession of the 1930s. The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings. This shift in corporate priority, however, has huge theoretical as well as practical implications and opens up a whole new field of study. For example, the new insight can explain fully the precise mechanism of prolonged depression and liquidity trap which conventional economics - based on corporate profit maximization - has so far failed to offer as a convincing explanation. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory, i.e., the Holy Grail of macro economics The policy implication of this new discovery is immense in that the conventional aversion to fiscal policy in favor of monetary policy will have to be completely reversed when the economy is in the yin phase. The theoretical implications are also immense in the sense that the economics profession will no longer have to rely so much on various rigidities to explain recessions that have become the standard practice within the so-called New Keynesian economics of the last twenty years.
作者提出了“资产负债表衰退”和“企业以负债最小化”的概念,并且对90年后日本衰退进行了分析,肯定了财政政策的有效性。整本数观点新颖,逻辑严密,值得一读。
评分 评分试图对中国的经济危机多一点了解,找些国外的危机史看看。跟中国最相似的,是90年代的日本,顺差,高储蓄率,坚挺的货币,利率降到0。辜朝明,野村研究所的首席经济学家,对那段历史有相当的发言权。 该书的核心理论是“资产负债表衰退”,由于资产价格泡沫的破灭,使得大...
评分银行、保险、证券公司等金融机构是国民经济的心脏,如果心脏失血过多,经济会有什么后果,我们又该怎么办? 野村证券研究所辜朝明(Richard Koo)的新书《宏观经济学的圣杯:日本经济大萧条的教训》(The Holy Grail of Macroeconomics: Lessons from the Great Depression of ...
The Holy Grail of Macroeconomics 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2025