The Holy Grail of Macroeconomics
Lessons from Japan's Great Recession
Ranked #44 in Macroeconomics
Japan's "Great Recession" lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US recession of the 1930s. The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked.
In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison... more
In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison... more
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