Two kinds of view about the recent stagnation of the Japanese economy have been particularly popular. The first adopts … a 'monetary' perspective, arguing that Japan has fallen into a liquidity trap from which only unconventional monetary … policy can save it. The second maintains that a large part of Japan's macroeconomic difficulties is structural and related to …

Paul Krugman, that the Japanese economy is in a liquidity trap. We argue that Japan's economic stagnation stems from a … future and they have been concerned by Japan's long-term recession. This paper will address why Japan's economy has stagnated …Japan has suffered from sluggish economic growth and recession since the 1990s, a phenomenon dubbed "Japan's Lost …

liquidity as a shelter from uncertainty and the related structural tendency of a monetary economy towards stagnation. …