New Paradigm in Macroeconomics

Solving the Riddle of Japanese Macroeconomic Performance

  • Authors
  • Richard A. Werner

Table of contents

  1. Front Matter
    Pages i-xii
  2. Introduction

    1. Front Matter
      Pages 1-1
    2. Richard A. Werner
      Pages 29-34
  3. Enigmas: Challenges to the Traditional Paradigm

    1. Front Matter
      Pages 35-35
    2. Richard A. Werner
      Pages 78-90
    3. Richard A. Werner
      Pages 103-113
    4. Richard A. Werner
      Pages 114-133
    5. Richard A. Werner
      Pages 134-138
    6. Richard A. Werner
      Pages 139-142
    7. Richard A. Werner
      Pages 143-148
    8. Richard A. Werner
      Pages 149-154
  4. Explanations: Applying the New Paradigm

    1. Front Matter
      Pages 155-159
    2. Richard A. Werner
      Pages 161-180
    3. Richard A. Werner
      Pages 181-200
    4. Richard A. Werner
      Pages 201-206
    5. Richard A. Werner
      Pages 207-225

About this book


Modern mainstream economics is attracting an increasing number of critics of its high degree of abstraction and lack of relevance to economic reality. Economists are calling for a better reflection of the reality of imperfect information, the role of banks and credit markets, the mechanisms of economic growth, the role of institutions and the possibility that markets may not clear. While it is one thing to find flaws in current mainstream economics, it is another to offer an alternative paradigm which, can explain as much as the old, but can also account for the many 'anomalies'. That is what this book attempts. Since one of the biggest empirical challenges to the 'old' paradigm has been raised by the second largest economy in the world - Japan - this book puts the proposed 'new paradigm' to the severe test of the Japanese macroeconomic reality.


economic growth economic policy fiscal policy growth macroeconomics monetary policy money

Bibliographic information

  • DOI
  • Copyright Information Palgrave Macmillan, a division of Macmillan Publishers Limited 2005
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Palgrave Economics & Finance Collection
  • Print ISBN 978-1-4039-2074-4
  • Online ISBN 978-0-230-50607-7
  • About this book