Bubble Economics -- Japanese Economic Classics Translation Series

Author: (Japanese) Yujiro Hayashi, translated and edited by Jin Hongyun, translated by Zeng Yinchu
Publisher:
Publish Date: 2005-03-01
Features: This book consists of nine chapters. Chapter 1 is an introduction and also an overview of the entire book. In Chapter 2, we elaborate on the economic theory of asset prices and bubbles, explaining the concept of bubbles and analyzing why they are a problem. In Chapter 3, we review several historical bubble events and reflect on the lessons from bubble history. Chapters 2 and 3 provide a general discussion on the issues of bubbles. The following chapters focus on the Japanese economy after the late 1980s. In Chapter 4, we analyze the process of bubble inflation. In Chapter 5, we examine the changes in the capital circulation behind the surge in asset prices, land transactions, and macroeconomic policies. In Chapter 6, we outline Japan's bubble response policies, particularly land policies, and evaluate them. In Chapter 7, we analyze the process of bubble collapse and its impact on the financial system. In Chapter 8, we discuss the effects of asset price fluctuations on the real economy. In Chapter 9, we look ahead to the Japanese economy after the bubble, discussing the measures we must take to prevent the recurrence of bubbles and revealing the long-term challenges facing Japan's economic development.