2005 | OriginalPaper | Chapter
The Enigma of the Ineffectiveness of Structural Policy
Author : Richard A. Werner
Published in: New Paradigm in Macroeconomics
Publisher: Palgrave Macmillan UK
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The lack of apparent success of fiscal and monetary policies was taken by many economists as evidence that demand-side policies did not work. So they advanced supply-side policies that focus on structural change. Japan, we were told had to implement ‘badly needed’ structural reforms.