{"product_id":"9781119028123","title":"The Escape from Balance Sheet Recession and the QE Trap A Hazardous Road for the World Economy","description":"\u003ch1\u003eThe Escape from Balance Sheet Recession and the QE Trap\u003c\/h1\u003e\u003ch2\u003eA Hazardous Road for the World Economy\u003c\/h2\u003e\u003ch3\u003eRichard C. Koo\u003c\/h3\u003e\u003cdiv\u003e\u003cb\u003eBusiness \u0026amp; Economics \/ Economics \/ Macroeconomics\u003c\/b\u003e\u003c\/div\u003e\u003cbr\u003e\u003cdiv\u003e\n\u003cb\u003eCompare global experiences during the balance sheet recession and find out what is needed for a full recovery\u003c\/b\u003e  \u003cp\u003e\u003ci\u003eThe Escape from Balance Sheet Recession and the QE Trap\u003c\/i\u003e details the many hidden dangers remaining as the world slowly recovers from the balance sheet recession of 2008. Author and leading economist Richard Koo explains the unique political and economic pitfalls that stand in the way of recovery from this rare type of recession that was largely overlooked by economists. Koo anticipated the current predicament in the West long before others and issued warnings in his previous books: \u003ci\u003eBalance Sheet Recession\u003c\/i\u003e and \u003ci\u003eThe Holy Grail of Macroeconomics\u003c\/i\u003e. This new book illustrates how history is repeating itself in Europe while the United States, which learnt from the Japanese experience, is doing better by avoiding the fiscal cliff. However, because of the liberal dosage of quantitative easing already implemented, the United States, the United Kingdom, and Japan may face a treacherous path to normalcy in what Koo calls the QE Trap. He argues that it is necessary to understand balance sheet recession in order to resolve the Eurozone crisis, particularly the competitiveness problems. Koo issues warnings against those who are too ready to argue for structural reforms when the problems are actually with balance sheets. He re-examines Japan's two decades of experiences with this rare recession and offers an insider view on the Abenomics. On China, readers will gain a very different historical perspective as Koo argues that western commentators have forgotten their own history when they talk about the re-balancing of the Chinese economy.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eLearn from Japan which experienced the same predicament afflicting the West fifteen years earlier\u003c\/li\u003e \u003cli\u003eDiscover how unwinding of quantitative easing will affect the United States, the United Kingdom, Japan, as well as the emerging world\u003c\/li\u003e \u003cli\u003eExamine solutions to the Eurozone problems caused by two balance sheet recessions eight years apart\u003c\/li\u003e \u003cli\u003eGain insight into China's problems from the West's own experiences with urbanisation\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eKoo, who developed the concept of balance sheet recession based on Japan's experience, took the revolution in macroeconomics started by John Maynard Keynes in 1936 to a new height. \u003ci\u003eThe Escape from Balance Sheet Recession and the QE Trap\u003c\/i\u003e offers the world cure for balance sheet recession.\u003c\/p\u003e\n\u003c\/div\u003e\u003cdiv\u003e  \u003cp\u003e\u003cb\u003eRICHARD C. KOO\u003c\/b\u003e is the Chief Economist of Nomura Research Institute, a research arm of Nomura Securities, the leading securities house in Japan. Best known for developing the concept of balance sheet recession, which is now used widely around the world, he has also advised successive prime ministers on how best to deal with Japan's economic and banking problems. \u003c\/p\u003e\n\u003cp\u003eConsistently voted as one of the most reliable economists by Japanese market participants for over a decade, he was a Doctoral Fellow of the Board of Governors of the Federal Reserve System and an economist with the Federal Reserve Bank of New York prior to joining Nomura. \u003c\/p\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003ctable\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublication Date: \u003c\/td\u003e\n\u003ctd\u003e27 October 2014\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublisher: \u003c\/td\u003e\n\u003ctd\u003eWiley\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eImprint: \u003c\/td\u003e\n\u003ctd\u003eWiley\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eISBN-13: \u003c\/td\u003e\n\u003ctd\u003e9781119028123\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFormat: \u003c\/td\u003e\n\u003ctd\u003eHardback\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePage Count: \u003c\/td\u003e\n\u003ctd\u003e320\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWeight (oz): \u003c\/td\u003e\n\u003ctd\u003e19.52\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/table\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":44314902790284,"sku":"9781119028123","price":35.96,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781119028123_654eca70-bfdc-416e-bfec-33c822db338e.jpg?v=1780185657","url":"https:\/\/lateknightbooks.com\/products\/9781119028123","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}