Unkept promises, unclear consequences : U.S. economic policy and the Japanese response /
edited by Ryuzo Sato and John A. Rizzo.
Cambridge [England] ; New York : Cambridge University Press, 1988.
ix, 200 p. : ill.
More Details
Cambridge [England] ; New York : Cambridge University Press, 1988.
catalogue key
Includes bibliographical references and index.
A Look Inside
Full Text Reviews
Appeared in Choice on 1989-10:
Both editors are with the Center for Japan-US Business and Economic Studies at New York University. The other five contributors are economists of distinction, including Lestor Thurow, Herbert Stein, and Paul Samuelson. Discussion focuses on the causes of trade imbalance between the US and Japan, with fingers pointed at supply-side economics in the US, inadequate coordination of macroeconomic policies among trade partners, a closed-economy approach to economic policies, the US government budget deficit, differential rates of saving, uneven growth of productivity, and the loss--albeit only sectoral--of US competitiveness abroad. Based on a 1986 conference, the volume is well documented, with 47 tables and 35 figures, but, except for the last chapter, contains data only up to 1985, which renders some long-term projections rather obsolete. Such long gestation periods for anthologies tend seriously to decrease their usefulness. The book tends to generate optimism that the protectionist tendencies apparent in 1989 can be prevented from having an impact on actual foreign economic policy. University collections. -B. Mieczkowski, Ithaca College
This item was reviewed in:
Choice, October 1989
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Main Description
This book examines the role of United States macroeconomic policy in the large and growing trade imbalance between Japan and the United States. To a substantial extent, it traces the causes of the current dilemma to failed U.S. macroeconomic policies. However, a careful examination of Japan's role in the bilateral trade imbalance reveals that Japan has exacerbated the problem in a variety of ways. Policy analyses, as well as econometric forecasts of the U.S. macroeconomy, are included.
Main Description
This volume evaluates the role of United States macroeconomic policy in the bilateral trade imbalance with Japan, from the perspectives of leading economists in the fields of macroeconomics and international trade. Policy analyses, as well as econometric forecasts of the US macroeconomy, are included.
Table of Contents
List of contributors
Reaganomic Repercussions
The good, the bad, and the unexpected: lessons from American economic policy
Macroeconomic policy during the Reagan years: 1981-1985
Repercussions of grand experiments in US economic policy
Is there Life Beyond the Trade Imbalance?
US economic prospects and policy options: impact on Japan-US relations
Major microeconomic adjustments ahead
Japan's Response
The US-Japan trade imbalance: causes and consequences from the Japanese perspective
Table of Contents provided by Publisher. All Rights Reserved.

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