In this groundbreaking book, Richard Koo argues that Japan's Great Recession 1990-2005 gave us vital clues not only on how a post-bubble economy can plunge into prolonged recession while leaving many conventional policy responses largely ineffective, but also on the exact policy mix needed for an economy to pull itself out of this type of recession.
There will probably never be a last word on the Japanese financial catastrophe of the 1990's but Richard Koo's book may be the most significant analysis ever published.
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