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The Holy Grail of Macroeconomics : Lessons from Japan's Great Recession (Hardcover)
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The Holy Grail of Macroeconomics : Lessons from Japan's Great Recession (Hardcover)
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from realistTheorist
Will the U.S. be like Japan? Many fear the U.S. GDP will plateau, as Japan's has for over a decade. Interested in learning more about the Japanese episode, I picked up "The Holy Grail of Macro-Economics", by Richard Koo. The book had much that I was looking for on Japan: about the conditions of t...
from jcbrunner
A well-written quick read that solves the puzzle why the Japanese economy took so long to recover from its burst real estate bubble in the early 1990s. Koo offers a good explanation about why liquidity traps occur and firms pay-down their debts in a low-interest environment. Balance sheet recessi...
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