IDEAS home Printed from https://ideas.repec.org/h/spr/advchp/978-981-97-5512-7_8.html
   My bibliography  Save this book chapter

Policy Discussions on Output Gaps in Japan During the 1990s

In: Rethinking Japanese Economic Policy at the Turn of the 21st Century

Author

Listed:
  • Takeshi Tashiro

    (Research Institute of Economy, Trade and Industry
    Peterson Institute for International Economics)

Abstract

The output gap, also known as the gross domestic product (GDP) gap, has long served as a guiding principle in economic policymaking. In Japan, it played a significant role in economic policy discussions from the late 1990s to the early 2000s. Nevertheless, its usefulness for real-time policymaking was a subject of debate. This chapter aims to provide an examination of the controversies surrounding the output gap during the aforementioned period. Upon thorough review and analysis, several noteworthy observations emerge regarding this debate. Firstly, these discussions delved into the complexities of output gap measurement and sought to uncover the true reasons behind economic recessions. Secondly, over the years, other advanced economies have drawn insights from Japan’s experience. In Europe, a campaign known as the “Campaign Against Nonsense Output Gap” aims to scrutinize the dependability of the output gap in policymaking and policy evaluations. Given the shared challenges faced by advanced economies, the lessons from Japan’s historical economic policy debates hold valuable significance and deserve ample attention.

Suggested Citation

  • Takeshi Tashiro, 2024. "Policy Discussions on Output Gaps in Japan During the 1990s," Advances in Japanese Business and Economics, in: Haruhito Takeda & Junko Watanabe (ed.), Rethinking Japanese Economic Policy at the Turn of the 21st Century, pages 211-220, Springer.
    • Handle: RePEc:spr:advchp:978-981-97-5512-7_8
    DOI: 10.1007/978-981-97-5512-7_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:advchp:978-981-97-5512-7_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.