Schnabl, Gunther - In: Asian Economic Papers 14 (2015) 1, pp. 124-150
Japan experienced a boom-and-bust cycle in the real estate and stock markets almost 20 years earlier than Europe. Since … Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the … crisis therapies. It is argued that in both Japan and Europe the consequences of expansionary monetary and fiscal policies …