USA and Japanese Economies

Paper Summary:

This paper discusses current macroeconomic conditions in the U.S.A. and compares its unemployment and inflation figures with those of Japan. It also examines how fiscal and monetary policy responses differ between the two countries. The paper makes use of graphs.

From the Paper:

"Japan has the largest GDP after the United States. This is an amazing accomplishment considering the destruction the Japanese were dealt in World War II. Governmental focus, strong work ethic, a focus on technology and little spending on military and defense were keys to Japan's rapid growth. During this period Japan's growth number were a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Like most of the global economy, the Japanese economy has also struggled. Japan's index of leading economic indicators in May of 2003 was measured 44.4. A rating over 50 indicates a healthy economy. Although improved from earlier lows during the year, the Japanese economy is still uncertain."

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