The Holy Grail of Macroeconomics: Lessons From Japan's Great Recession - Chinese Edition - 衰退 : 如何在金融危机中幸存和发展 - Da Shuai Tui : Ru He Zai Jin Rong Wei Ji Zhong Xing Cun He Fa Zhan

IN CHINESE - Chinese translation of Richard Koo's highly acclaimed work presents crucial lessons from Japan's recession that could aid the US and other economies as they struggle to recover from the current financial crisis. --- This book is about Japan's 15-year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked. - The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory- The Holy Grail of Macro Economics