Great Recessions - Lessons Learned from Japan

Richard C. Koo, the chief economist of Nomura Research Institute, discussed the lessons learned from Japan's "lost decade" during a presentation at CSIS.

Koo suggested that government stimulus can play a key role in alleviating the problems of a balance sheet recession. Koo's recent book, "The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession", discusses these issues in greater detail.

His presentation may be found @ http://www.csis.org/media/csis/events/081029_japan_koo.pdf

More details are @ http://www.csis.org/component/option,com_csis_events/task,view/id,1828/