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markets may drive economies into recessions, it shows the following: (1) Liquidity traps may occur not only when interest … flexible exchange rates when the country is stuck in a liquidity trap; (3) Near the fringe of liquidity traps, the risk arises …
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This book investigates the reasons for persistent public deficits and delayed fiscal reform in Japan, placing a special … emphasis on political economy aspects. Japan is confronted with the need to pursue fiscal discipline for fiscal consolidation …
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