Schnabl, Gunther - In: Zeitschrift für Wirtschaftspolitik 62 (2013) 1, pp. 3-22
Abstract Japan went 15 years earlier than Europe through a boom-and-bust cycle in the real estate and stock markets … very high public debt level. The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons … financial sector and aggregate demand, as well as gradual real income losses. The economic policy implication for Europe and …
