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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.
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.
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