References and Bibliography

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  3. Australian Bureau of Statistics. Australian National Accounts.
  4. Banco de España. Financial Accounts of the Spanish Economy.
  5. Banco de Portugal. National Financial Accounts.
  6. _________. Residential Property Prices: Detailed Series (Nominal).
  7. _________. Residential Property Prices: Selected Series (Nominal and Real).
  8. Banca d'Italia. Financial Accounts.
  9. Bank of England. M4 and M4 Lending Excluding Intermediate OFCs.
  10. _________. Notes and Coin and Reserves Balances.
  11. Bank of Greece. Financial Accounts.
  12. Bank of Japan. Assets and Liabilities of Domestically Licensed Banks (Banking Accounts).
  13. _________. Flow of Funds.
  14. _________. Monetary Base.
  15. _________. Money Stock.
  16. _________. Reserves.
  17. _________. Tankan.
  18. Bernanke, Ben S. (1995), “The Macroeconomics of the Great Depression: A Comparative Approach,” Journal of Money, Credit, and Banking, 27(1).
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  23. _________. (2009), “Prudent Commercial Real Estate Loan Workouts,” Supervision and Regulation Letters, SR 09-7, on October 30, 2009. https://www.federalreserve.gov/boarddocs/srletters/2009/SR0907.htm.
  24. _________. (2012), “Transcript of Chairman Bernanke's Press Conference,” Washington, D.C., April 25, 2012. https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20120425.pdf.
  25. _________. (2015), “Transcript of Chair Yellen's Press Conference, December 16, 2015.” https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20151216.pdf.
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  27. _________. (2017), “Transcript of Chair Yellen's Press Conference, June 14, 2017,” pp. 16–17. https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20170614.pdf.
  28. _________. (2021a) “The Beige Book: August 2021,” released September 8, 2021. https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20210908.pdf
  29. _________. (2021b) “The Beige Book: November 2021,” released December 1, 2021.
  30. _________. Assets and Liabilities of Commercial Banks in the United States.
  31. _________. Financial Accounts of the Unites States.
  32. _________. Foreign Exchange Rates.
  33. _________. Money Stock Measures.
  34. _________. Selected Interest Rates.
  35. Brainard, Lael (2021), “Remaining Steady as the Economy Reopens,” at The Economic Club of New York, New York, NY (via webcast), June 1, 2021. https://www.federalreserve.gov/newsevents/speech/brainard20210601a.htm.
  36. Cabinet Office, Japan. Annual Report on National Accounts.
  37. _________. Quarterly Estimates of GDP.
  38. Central Bank of Ireland. Quarterly Financial Accounts.
  39. Central Statistics Office, Ireland. Quarterly National Accounts.
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  42. Deutsche Bundesbank. Financial Accounts.
  43. Directorate General of Budget, Accounting and Statistics (DGBAS), the Executive Yuan, Taiwan. Consumer Price Indices.
  44. _________. Monthly Average Earnings.
  45. Draghi, Mario (2015), “Introductory Statement to the Press Conference (with Q&A),” ECB press conference in Frankfurt am Main, January 22, 2015. https://www.ecb.europa.eu/press/pressconf/2015/html/is150122.en.html.
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  49. _________. Balance Sheet Items.
  50. _________. Internal Liquidity Management.
  51. _________. Long-Term Interest Rate Statistics for EU Member States.
  52. European Central Bank and Eurostat. Quarterly Sector Accounts.
  53. Eurostat. Harmonised Index of Consumer Prices (HICP).
  54. _________. Quarterly National Accounts.
  55. Federal Reserve Bank of Chicago. National Financial Conditions Index (NFCI).
  56. Federal Reserve Bank of St. Louis. FRED (Federal Reserve Economic Data).
  57. Federal Statistical Office (Destatis), Germany. Gross Domestic Product.
  58. Financial Services Agency, Japan. Status of Non-Performing Loans.
  59. Fischer, Stanley (2016), “Reflections on Macroeconomics Then and Now,” remarks at Policy Challenges in an Interconnected World, 32nd Annual National Association for Business Economics Economic Policy Conference, Washington, D.C., March 7, 2016. https://www.federalreserve.gov/newsevents/speech/fischer20160307a.htm.
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  61. Forbes, “The Forbes 400: The Definitive Ranking of the Wealthiest Americans in 2021,” edited by Kerry A. Dolan.
  62. French National Institute of Statistics and Economic Studies (INSEE). Annual Wages.
  63. Frydl, Edward J. (1992), “Overhangs and Hangovers: Coping with the Imbalances of the 1980s,” Federal Reserve Bank of New York Seventy-Seventh Annual Report for the Year Ended December 31, 1991.
  64. Greenwood, John (2016), “Successful Central Banks Focus on Greater Purchasing,” Financial Times, May 31, 2016. https://next.ft.com/content/f7a98fb2-241f-11e6-9d4d-c11776a5124.
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  66. Guha, Krishna (2009), “Bernanke Warns on Deficits,” Financial Times Asian edition, June 4, 2009.
  67. Harvard Business School “Trade Union Membership: Percentage of Working Force as Member of a Trade Union 1880–2010.” https://www.hbs.edu/businesshistory/courses/resources/historical-data-visualization/Pages/details.aspx?data_id=37.
  68. Hellenic Statistical Authority, Greece. Gross Domestic Product.
  69. Institute of International Finance (2017), Capital Market Monitor, March 2017, Chart 6.
  70. International Monetary Fund (2010), “Press Release: IMF Executive Board Approves €30 Billion Stand-By Arrangement for Greece,” on May 2010. https://www.imf.org/en/News/Articles/2015/09/14/01/49/pr10187.
  71. _________ (2015), “IMF Survey: Top Researchers Debate Unconventional Monetary Policies,” by Maurice Obstfeld and Gustavo Adler, IMF News on November 20, 2015. http://www.imf.org/en/news/articles/2015/09/28/04/53/sores111915a.
  72. _________ (2021), World Economic Outlook October 2021. https://www.imf.org/en/Publications/WEO/Issues/2021/10/12/world-economic-outlook-october-2021.
  73. _________. International Financial Statistics.
  74. Italian National Institute of Statistics. Quarterly National Accounts.
  75. Iwata, Kikuo (2001), Defure no Keizaigaku (The Economics of Deflation), Tokyo: Toyo Keizai.
  76. Jakab, Zoltan and Kumhof, Michael (2015), “Banks Are Not Intermediaries of Loanable Funds—And Why This Matters,” Bank of England Working Paper, No. 529. https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2015/banks-are-not-intermediaries-of-loanable-funds-and-why-this-matters.pdf.
  77. Japan Bond Trading Company. Long-Term (10y) JGB Yield.
  78. Japan Real Estate Institute. Urban Land Price Index.
  79. Japanese Bankers Association. Financial Statements of All Banks.
  80. Koo, Richard C. (1994), Good Strong Yen and Bad Strong Yen (Yoi Endaka, Warui Endaka), Tokyo: Toyo Keizai.
  81. _________ (2001), “The Japanese Economy in Balance Sheet Recession.” Business Economics, National Association of Business Economists, Washington, D.C., April 2001.
  82. _________ (2003), Balance Sheet Recession: Japan's Struggle with Uncharted Economics and its Global Implications, Singapore: John Wiley & Sons (Asia).
  83. _________ (2008), The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession, Singapore: John Wiley & Sons (Asia).
  84. _________ (2015a), The Escape from Balance Sheet Recession and the QE Trap, Singapore: John Wiley & Sons.
  85. _________ (2015b), “China and the US-led International Order” in How Do Asians See Their Future? edited by François Godement, European Council on Foreign Relations. http://www.ecfr.eu/page/-/ECFR130_CHINA_ASIA_REPORT_pdf.pdf.
  86. _________ and Fujita, Shigeru (1997), “Zaisei-saiken no Jiki wa Shijo ni Kike: Zaisei-saiken ka Keiki-kaifuku ka” (“Listen to the Bond Market for the Timing of Fiscal Reform'),” Shukan Toyo Keizai, February 8, 1997. pp. 52–59.
  87. _________ and Krugman, Paul (1999), “Gekitotsu Taidan: Nihon Keizai Endaka wa Akuka” (“Big Debate on Japan's Economy: Is Strong Yen a Bad Thing?”), Bungeishunju, November 1999, edited by Yasuhara Ishizawa, pp. 130–143.
  88. _________ (2018), The Other Half of Macroeconomics and the Fate of Globalization, John Wiley & Sons (U.K.).
  89. Krugman, Paul (2011), “Credibility and Monetary Policy in a Liquidity Trap (Wonkish),” New York Times, March 18, 2011.
  90. Ku, Hung-Ming (1915), The Spirit of the Chinese People, Beijing, reprinted in Taipei in 1956.
  91. Kuroda, Haruhiko (2013), “Quantitative and Qualitative Monetary Easing,” speech at a meeting held by Yomiuri International Economic Society in Tokyo, April 12, 2013. http://www.boj.or.jp/en/announcements/press/koen_2013/ko130412a.htm/.
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  93. Lawrence H. Summers's webpage on secular stagnation. http://larrysummers.com/category/secular-stagnation/.
  94. Maddison, Angus (2006), The World Economy: A Millennial Perspective (Vol. 1), Historical Statistics (Vol. 2). Paris: OECD.
  95. _________. “Historical Statistics of the World Economy: 1-2008 AD.” http://www.ggdc.net/maddison/Historical_Statistics/vertical-file_02-2010.xls.
  96. Markey-Towler, Brendan (2017a), Foundations for Economic Analysis: The Architecture of Socioeconomic Complexity, PhD thesis, School of Economics, University of Queensland.
  97. _________ (2017b), “Poetry and Economics: Maintaining our link to humanity,” from Brendan Markey-Towler's blog, July 24, 2017. https://medium.com/@brendanmarkeytowler/poetry-and-economics-maintaining-our-link-to-humanity-532785047f0e.
  98. McLeay, Michael, Radia, Amar and Thomas, Ryland (2014), “Money Creation in the Modern Economy,” Bank of England Quarterly Bulletin 2014 Q1, pp. 14–27. https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf.
  99. Ministry of Commerce, People's Republic of China (2018), “Regular Press Conference of the Chinese Ministry of Commerce,” July 5, 2018. http://english.mofcom.gov.cn/article/newsrelease/press/201807/20180702766291.shtml.
  100. Ministry of Employment and Labor, Korea. Strikes Statistics.
  101. Ministry of Finance, Japan. Budget Statistics.
  102. _________. Interest Rate.
  103. Ministry of Finance, Republic of China, Taiwan. Finance Statistics, in traditional Chinese.
  104. Ministry of Health, Labour and Welfare, Japan. Monthly Labour Survey.
  105. _________. Survey on Labour Disputes.
  106. National Statistics Institute, Spain. Quarterly Spanish National Accounts.
  107. Nikkei. Tai Kokyaku Denshin Baibai Soba (Telegraphic Transfer Buying and Selling rate).
  108. Nikkei Business (2015), “Tokushu: Nisen Mannin-no Hinkon (20 Million Japanese in Poverty),” in Japanese, Tokyo: Nikkei BP, March 23, 2016, pp. 24–43.
  109. Oakley, David (2009), “A Bold Bid to Revive Lending,” Financial Times, March 7, 2009. https://next.ft.com/content/9b3fd930-0a90-11de-95ed-0000779fd2ac.
  110. Office for National Statistics, U.K. (2021), “UK Balance of Payments, The Pink Book: 2021,” October 29, 2021. https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/unitedkingdombalanceofpaymentsthepinkbook/2021#trade.
  111. _________. Average Weekly Earnings Time Series.
  112. _________. Consumer Price Inflation.
  113. _________. Retail Prices Index: Long Run Series.
  114. _________. UK Economic Accounts.
  115. Organisation for Economic Co-operation and Development (OECD) (2017), PISA 2015 Results (Volume III): Students' Well-Being, Paris: OECD Publishing.
  116. _________ (2021), Unit Labor Costs and Labor Productivity.
  117. Overholt, William (2020), “Myths and Realities in Sino-American Relations,” lecture given for Harvard's Fairbank Center for Chinese Studies on November 12, 2020.
  118. Piketty, Thomas (2014), Capital in the Twenty-First Century, translated by Arthur Goldhammer, Cambridge, MA: Belknap Press of Harvard University Press.
  119. Real Capital Analytics. RCA CPPI (Commercial Property Price Indices).
  120. Robinson, Joan (1972), “The Second Crisis of Economic Theory,” American Economic Review 62(1/2), pp. 1–10.
  121. Rogoff, Kenneth S. (2016), The Curse of Cash, Princeton, NJ: Princeton University Press.
  122. Sawa, Takamitsu (2016), Keizaigaku no Susume: Jimbun-chi to Hihan-seishin no Fukken (Introduction to True Economics: Re-integration of Humanities and Critical Thinking), Iwanami Shinsho, Tokyo.
  123. Soros, George (2009), “Soros: General Theory of Reflexivity,” Financial Times, October 27, 2009, p. 11. https://www.ft.com/content/0ca06172-bfe9-11de-aed2-00144feab49a.
  124. Standard and Poor's (S&P) Dow Jones Indices. S&P CoreLogic Case-Shiller Home Price Indices.
  125. _________. S&P Eurozone Investment Grade Corporate Bond Index.
  126. _________. S&P Japan Investment Grade Corporate Bond Index.
  127. _________. S&P 500® Investment Grade Corporate Bond Index.
  128. Statistics Bureau, Ministry of Internal Affairs and Communications, Japan. Consumer Price Index.
  129. _________. Report on Internal Migration in Japan.
  130. Statistics Canada. Financial Flow Accounts.
  131. _________. Gross Domestic Product, Expenditure-Based.
  132. Statistics Korea. Flow of Funds.
  133. _________. Internal Migration Statistics.
  134. _________. Korea Statistical Year Book.
  135. _________. National Accounts.
  136. Statistics Portugal. Portuguese National Accounts.
  137. Stevens, Glenn (2003), “Inflation Targeting: A Decade of Australian Experience,” address to South Australian Centre for Economic Studies April 2003 Economic Briefing, April 10, 2003. http://www.rba.gov.au/speeches/2003/sp-dg-100403.html.
  138. Summers, Lawrence H. (2009), “Rescuing and Rebuilding the U.S. Economy: A Progress Report,” remarks at the Peterson Institute for International Economics on July 17, 2009. https://piie.com/commentary/speeches-papers/rescuing-and-rebuilding-us-economy-progress-report.
  139. Swiss Federal Statistical Office. Consumer Prices Index.
  140. _________. Swiss Wage Index.
  141. Swiss National Bank. Minimum Reserves for Selected Bank Categories.
  142. Temin, Peter (2017), The Vanishing Middle Class: Prejudice and Power in a Dual Society, Cambridge, MA: MIT Press.
  143. The Economist. The Big Mac Index.
  144. Toyotimes “JAMA Chairman Akio Toyoda Talks Earnestly about Carbon Neutrality in Japan,” Toyota Motor Corporation's website, January 8, 2021. https://toyotatimes.jp/en/toyota_news/111.html.
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  147. United Nations, Department of Economic and Social Affairs, Population Division (2018), World Urbanization Prospects: The 2018 Revision.
  148. _________ (2019), World Population Prospects 2019, Online Edition.
  149. U.S. Bureau of Economic Analysis, “U.S. International Transactions, Third Quarter 2021,” December 21, 2021. https://www.bea.gov/sites/default/files/2021-12/trans321.pdf.
  150. U.S. Bureau of Labor Statistics, “Union Members—2020,” U.S. Bureau of Labor Statistics Economic News Release, January 22, 2021. https://www.bls.gov/news.release/archives/union2_01222021.htm.
  151. U.S. Congressional Budget Office, Historical Budget Data.
  152. U.S. Department of Commerce, Bureau of Economic Analysis (2021), “U.S. International Transactions, Third Quarter 2021,” December 21, 2021. https://www.bea.gov/sites/default/files/2021-12/trans321.pdf
  153. _________. Gross Domestic Product (GDP).
  154. _________. Price Indexes for Personal Consumption Expenditures by Major Type of Product.
  155. _________. U.S. International Transactions.
  156. U.S. Department of Commerce, Census Bureau (2012), 2010 Census.
  157. _________. Current Population Survey, 1948 to 2021 Annual Social and Economic Supplements (CPS ASEC).
  158. _________. U.S. Trade in Goods by Country.
  159. Volcker, Paul A. (2001), “Jinsoku na Furyo-saiken Shori ga Hitsuyo daga Shori no Seigensokudo wa Daiji” (“Prompt Disposal of NPLs Is Needed, But So Is Setting a Speed Limit”), Shukan Toyo Keizai, June 23, 2001, p. 58.
  160. Wakakura, Masato (2006), “Kokusai Hikaku: Nihon-no Iryo-hi ha Yasusugiru” (“International Comparison: Japan's Medical Costs Are Too Inexpensive”),” Voice, June 2006, Tokyo, PHP Institute, p. 159.
  161. Wakatabe, Masazumi (2016), “Herikoputa Mane to wa Nanika (3)” (“What Is Helicopter Money?”), Nikkei, June 20, 2016.
  162. Werner, Richard A. (2016), “A Lost Century in Economics: Three Theories of Banking and the Conclusive Evidence,” International Review of Financial Analysis, 46: pp. 361–379.
  163. Williams, John C. (2016), “The Right Profile: Economic Drivers and the Outlook,” a presentation to Town Hall Los Angeles, February 18, 2016. http://www.frbsf.org/our-district/files/Williams-Speech-The-Right-Profile_Economic-Drivers-and-the-Outlook.pdf.
  164. Wolf, Martin (2015), “A Handy Tool—But Not the Only One in the Box,” Financial Times, January 4, 2015. https://www.ft.com/content/0d3f41dc-86bf-11e4-8a51-00144feabdc0.
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