List of contributors; Acknowledgments; 1. Editor's summary John B. Shoven; 2. The corporate cost of capital in Japan and the United States: a comparison Albert Ando and Alan Auerbach; 3. The taxation of income from capital in Japan John B. Shoven and Toshiaki Tachibanaki; 4. Corporate tax burden and tax incentives in Japan Hiromitsu Ishi; 5. A closer look at saving rates in the United States and Japan Michael J. Boskin and John M. Roberts; 6. The Japanese current-account surplus and fiscal policy in Japan and the United States Kazuo Ueda; 7. Curing trade imbalance by international tax coordination Iwao Nakatani; 8. Picking losers: public policy toward declining industries in Japan Merton J. Peck, Richard C. Levin and Akira Goto; 9. Corporate capital structure in the United States and Japan: financial intermediation and implications of financial deregulation James E. Hodder; 10. The Japanese bureaucracy in economic administration: a rational regulator or pluralist agent? Masahiko Aoki; 11. Japan's energy policy during the 1970s Chikashi Moriguchi; 12. Industry structure and government policies in the US and Japanese integrated-circuit industries W. Edward Steinmueller.