Concluding Remarks: Beware of Japanization

Masazumi Wakatabe

Chapter Chapter 6 in Japan’s Great Stagnation and Abenomics, 2015, pp 141-159 from Palgrave Macmillan

Abstract: Abstract What lessons should we draw from the whole episode of Japan’s Great Stagnation? Knowing what happened in Japan is the best way to avoid repeating it, and some have already learned the lessons, while others have not. As for the lessons learned, the Federal Reserve Board (FRB) avoided falling into deflation in 2004, and some governments and central banks, after the Lehman shock, tried to avoid deflation. Also, unlike Japan, central banks dealt with the financial panic of 2007–2008 more or less quickly, although the bankruptcy of Lehman Brothers itself and the triggering of the panic are debatable.

Keywords: Monetary Policy; Central Bank; Asset Price; European Central Bank; Macroeconomic Policy (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43885-0_6

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DOI: 10.1057/9781137438850_6

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