The Holy Grail of Macroeconomics 在線電子書 圖書標籤: 經濟學 日本 經濟 金融 宏觀經濟 經濟史 經濟危機 日本經濟
發表於2025-04-14
The Holy Grail of Macroeconomics 在線電子書 pdf 下載 txt下載 epub 下載 mobi 下載 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
評分論點非常清晰。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. 不足之處有二:1. 後幾章有些囉嗦瞭;2. 沒有講明白政府要如何在經濟復蘇後減少債務。
評分論點非常清晰。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. 不足之處有二:1. 後幾章有些囉嗦瞭;2. 沒有講明白政府要如何在經濟復蘇後減少債務。
評分感覺這個論點隻適用於日本
評分論點非常清晰。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. 不足之處有二:1. 後幾章有些囉嗦瞭;2. 沒有講明白政府要如何在經濟復蘇後減少債務。
辜朝明,日本首屈一指的證券公司——野村證券旗下的研究機構野村綜閤研究所的首席經濟學傢,連續近10年被日本資本和金融市場人士選為最受信賴的經濟學傢之一,並為日本曆屆首相就如何應對日本經濟與銀行問題提供谘詢。
進入野村證券之前,他作為經濟學傢任職於紐約聯邦儲備銀行,獲得過美國聯邦儲備委員會理事會博士會員的榮譽。他著述良多,同時也是早稻田大學客座教授,2001年被美國商業經濟學會授予艾布拉姆遜奬。他同時還是“商業周刊在綫”的專欄作傢以及日本內閣防務戰略會議的唯一一位非日本籍委員。
在綫閱讀本書
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.
对于传统经济学的反思我觉得应该是每一位致力于经济学研究必须思考的问题。我们不能习惯性的套用西方的框架来研究不可能解释的问题。对于大萧条发生的原因至今仍然争论不休,这可能是历史原因,记忆无法复制,当代人对于历史具体细节缺乏足够的了解。但对于08年金融危机发生准...
評分初看这本书时,觉得眼前一亮,它用企业资产负债表衰退来解释日本经济近20年的停滞不前让人眼前一亮。企业在遭遇资产负债问题时,首当其冲的任务是降低负债,而不是扩张公司规模。(赚的每一分钱首先想到的是把债给还了,而不是用来再投资。)——遭遇资产负债表衰退的原因是,...
評分银行、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 ...
評分 評分从“资产负债表”衰退角度解读美国大萧条、日本消失20年和美国次贷危机的一本很好的科普读物~ 1 更深入的解读了“流动性陷阱”的原因。因为资产泡沫破灭导致私人部门的资产减少,从而使企业“技术性破产”,企业目标由追求利润最大化转向偿还负债。在此情况下,借贷需求衰减导...
The Holy Grail of Macroeconomics 在線電子書 pdf 下載 txt下載 epub 下載 mobi 下載 2025