國立虎尾科技大學 |

Strong Money Demand in Financing War and Peace = The Cases of Wartime and Contemporary Japan /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Strong Money Demand in Financing War and Peace/ by Makoto Saito.
Reminder of title:	The Cases of Wartime and Contemporary Japan /
Author:	Saito, Makoto.
Description:	XXIV, 204 p. 52 illus., 8 illus. in color.online resource. :
Contained By:	Springer Nature eBook
Subject:	Macroeconomics. -
Online resource:	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. - 1st ed. 2021. - XXIV, 204 p. 52 illus., 8 illus. in color.online resource. - Advances in Japanese Business and Economics,282197-8867 ;. - Advances in Japanese Business and Economics,8.

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:

554837
Macroeconomics.

LC Class. No.: HB172.5

Dewey Class. No.: 339

Strong Money Demand in Financing War and Peace = The Cases of Wartime and Contemporary Japan /
LDR:02956nam a22004215i 4500 001 1055618
003 DE-He213
005 20210826072229.0
007 cr nn 008mamaa
008 220103s2021 si | s |||| 0|eng d
020 $a 9789811624469 $9 978-981-16-2446-9
024 7 $a 10.1007/978-981-16-2446-9 $2 doi
035 $a 978-981-16-2446-9
050 4 $a HB172.5
072 7 $a KCB $2 bicssc
072 7 $a BUS039000 $2 bisacsh
072 7 $a KCB $2 thema
072 7 $a KCBM $2 thema
082 0 4 $a 339 $2 23
100 1 $a Saito, Makoto. $e author. $4 aut $4 http://id.loc.gov/vocabulary/relators/aut $3 1360839
245 1 0 $a Strong Money Demand in Financing War and Peace $h [electronic resource] : $b The Cases of Wartime and Contemporary Japan / $c by Makoto Saito.
250 $a 1st ed. 2021.
264 1 $a Singapore : $b Springer Singapore : $b Imprint: Springer, $c 2021.
300 $a XXIV, 204 p. 52 illus., 8 illus. in color. $b online resource.
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
347 $a text file $b PDF $2 rda
490 1 $a Advances in Japanese Business and Economics, $x 2197-8867 ; $v 28
505 0 $a 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).
520 $a 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.
650 0 $a Macroeconomics. $3 554837
650 0 $a Economic history. $3 557541
650 1 4 $a Macroeconomics/Monetary Economics//Financial Economics. $3 1069052
650 2 4 $a Economic History. $3 1105079
650 2 4 $a Economy-wide Country Studies. $3 1104727
710 2 $a SpringerLink (Online service) $3 593884
773 0 $t Springer Nature eBook
776 0 8 $i Printed edition: $z 9789811624452
776 0 8 $i Printed edition: $z 9789811624476
776 0 8 $i Printed edition: $z 9789811624483
830 0 $a Advances in Japanese Business and Economics, $x 2197-8859 ; $v 8 $3 1263373
856 4 0 $u https://doi.org/10.1007/978-981-16-2446-9
912 $a ZDB-2-ECF
912 $a ZDB-2-SXEF
950 $a Economics and Finance (SpringerNature-41170)
950 $a Economics and Finance (R0) (SpringerNature-43720)