Hattori, Masazumi; Shin, Hyun Song; Takahashi, Wataru - Institute for Monetary and Economic Studies, Bank of Japan - 2009
This paper revisits the events of the 1980s bubble in Japan in light of the lessons learned from the subprime crisis in the United States. Our focus is on the role played by sectoral developments in the financial system in Japan. We highlight the transformation of a subset of non-financial firms...