TY  - JOUR
AU  - Sachs,Jeffrey
AU  - Boone,Peter
TI  - Japanese Structural Adjustment and the Balance of Payments
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2614
PY  - 1988
Y2  - June 1988
UR  - http://www.nber.org/papers/w2614
L1  - http://www.nber.org/papers/w2614.pdf
N1  - Author contact info:
Jeffrey D. Sachs
The Earth Institute at Columbia University
314 Low Library
535 West 116th Street, MC 4327
New York, NY  10027
Tel: 212/854-8704
Fax: 212/854-8702
E-Mail: sachs@columbia.edu

Peter Boone
London School of Economics
E-Mail: pb@effint.org
AB  - Policy discussions in Japan have increasingly recognized the important role of land values and land-use patterns in Japanese macroeconomic adjustment. In Japan in recent years, land wealth constitutes more than half of financial wealth, a proportion that is much higher than in the United States and other industrialized economies. Consequently, shifts in land-use patterns can have important effects on Japanese savings and investment patterns, and thereby on the Japanese trade balance and current account. This papers studies the implications of land-use policies for the Japanese macroeconomy using both a theoretical model and a multi- sectoral dynamic simulation model.
ER  -