The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession

By Richard C. Koo. 2009

388 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/67b0ecd563a755005120fa7262a94dcf54e3879e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

1. Paul Krugman
2. Gauti B. Eggertsson
3. Florin O. Bilbiie
4. Atif R. Mian
5. C. Borio
6. Adrien Auclert
7. Thomas Philippon
8. Joseph E. Stiglitz

Citations in the corpus

• Debt, Deleveraging and the Liquidity Trap (2011, background): “More recently, Richard Koo (2008) has long argued that both Japan’s “lost decade” and the Great Depression were essentially caused by balance-sheet distress, with large parts of the economy unable to spend thanks to excessive debt.”
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach* (2012, result): “We have already mentioned work by Hall (2011) and Mian and Sufi (2011a, 2011b) which we view as complementary to our findings. Curdia and Woodford (2009, 2010, 2011) and Del Negro et al. (2011) also draw the connections that disturbances in the financial markets can trigger a drop in the natural rat”