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Mr. Richard Koo will discuss his recently published book,
Balance Sheet Recession. In this groundbreaking book, he argues
that far from being the sick man of Asia, Japan is suffering
from a temporary but highly unusual economic aberration. Balance
Sheet Recession argues that contrary to popular belief, a massive
shift in corporate behavior, instead of structural problems,
is the root cause of both the deflation and the non-performing
loan problems that have troubled Japan for so long. It argues
that when the causality runs from the corporate balance sheet
problems to deflation and banking problems, a highly unconventional
policy response is needed to stabilize the economy.
Transcript
(PDF)
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Mr. Richard Koo
Chief Economist
Nomura Research Institute
Discussants
Dr.
Arthur Alexander
Visiting Professor
Georgetown University
Moderator
Dr. G. John Ikenberry
Peter F. Krogh Professor of Global Justice
Georgetown University
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