Japan’s Trap

Paul Krugman
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Paul Krugman: University of Princeton

Ekonomicheskaya Politika / Economic Policy, 2015, vol. 1, 177-194

Abstract: From the beginning of modern macroeconomics the real-world possibility of the liquidity trap situation that was initially discovered in quasi-static models became a matter of great debate. Using a simple macroeconomic model the author shows how the liquidity trap could be realized in dynamic context. The finding for interpretation of the causes of the depressive conditions that the Japan’s economy endures from the beginning of the 1990-s are used.

Keywords: liquidity trap; Keynesianism; depression in Japan; inflationary expectations (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:ecopol:ep2015

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