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Japan's Bubble, Deflation, and Long-term Stagnation - MIT Press Scholarship Online
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Japan's Bubble, Deflation, and Long-term Stagnation

Koichi Hamada, Anil K Kashyap, and David E. Weinstein


Japan’s economic bubble burst in the early 1990s, and the country entered its famous “lost decade”—a period of stagnation and economic disruption that persisted until 2003. The current declines in global equity and real estate markets have eerie parallels to Japan’s economic woes of the 1990s. If we are to avoid repeating Japan’s experience on a global scale, we must understand what happened, why it happened, and the effectiveness (or ineffectiveness) of Japan’s policy choices. In this book, economists—Japan specialists and others—bring state-of-the-art models and analytic tools to bear on the ... More

Keywords: Japan, economic bubble, early 1990s, lost decade, stagnation, economic disruption, global equity, real estate markets, recession, central bank

Bibliographic Information

Print publication date: 2010 Print ISBN-13: 9780262014892
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262014892.001.0001


Affiliations are at time of print publication.

Koichi Hamada, editor

Anil K Kashyap, editor

David E. Weinstein, editor