Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/2247
Authors: 
Siebert, Horst
Year of Publication: 
1999
Series/Report no.: 
Kiel Working Papers 919
Abstract: 
In the second part of the 80s, Japan was under political pressure to expand aggregate demand. It followed suit in increasing its money supply. This caused severe inflation and the financial bubble which collapsed in 1990 resulting in capital losses and in a sizable loss of GDP. This paper draws some lessons from the Japanese experience. The bottom line is that Japan became the victim of a misleading concept of global demand management.
JEL: 
E50
E50
Document Type: 
Working Paper

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