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Strong money demand in financing war...

Saito, Makoto.

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Strong money demand in financing war and peace = the cases of wartime and contemporary Japan /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Strong money demand in financing war and peace/ by Makoto Saito.
其他題名:	the cases of wartime and contemporary Japan /
作者:	Saito, Makoto.
出版者:	Singapore :Springer Singapore : : 2021.,
面頁冊數:	xxiv, 204 p. :ill., digital ;24 cm.
內容註:	Long-Run Observations (the 1890s to the 2010s) and an Alternative Theory of the Price Level -- Demand for BOJ Notes from Black Markets under Price Controls (1937 to 1949) -- On Wartime Money Finance in the Japanese Occupied Territories (1942 to 1945)
Contained By:	Springer Nature eBook
標題:	Demand for money - History. - Japan -
標題:	Japan - Economic conditions -
電子資源:	https://doi.org/10.1007/978-981-16-2446-9
ISBN:	9789811624469

Strong money demand in financing war and peace = the cases of wartime and contemporary Japan /
Saito, Makoto.

Strong money demand in financing war and peacethe cases of wartime and contemporary Japan /[electronic resource] :by Makoto Saito. - Singapore :Springer Singapore :2021. - xxiv, 204 p. :ill., digital ;24 cm. - Advances in Japanese business and economics,v.282197-8859 ;. - Advances in Japanese business and economics ;v.28..

Long-Run Observations (the 1890s to the 2010s) and an Alternative Theory of the Price Level -- Demand for BOJ Notes from Black Markets under Price Controls (1937 to 1949) -- On Wartime Money Finance in the Japanese Occupied Territories (1942 to 1945)

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.

ISBN: 9789811624469

Standard No.: 10.1007/978-981-16-2446-9doiSubjects--Topical Terms:

3505402
Demand for money
--History.--JapanSubjects--Geographical Terms:

3166602
Japan
--Economic conditions

LC Class. No.: HG1272

Dewey Class. No.: 332.4952

Strong money demand in financing war and peace = the cases of wartime and contemporary Japan /
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