The CFA Institute is holding it conference in Boston. The Wall Street Journal reporter, Donna Kardos Yesalavich, speaks with Nomura Research Institute's chief economist, Richard C. Koo, who describes the current recession as a "Balance-Sheet Recession." 6/4/2010 2:39:28 PM
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4 comments:
O yeah, the Japanese response to balance sheet recession and their "recovery" is exactly what WE should shoot for!!! Not!!!
Check out Suffolk University professor and Beacon Hill Institute Senior Economist Benjamin Powell's analysis of the Japanese approach:
http://mises.org/daily/1099
Of course, although that has been the Japanese approach, their economy is not necessarily an example we would like to emulate.
Check out Suffolk University assistant professor and senior economist for the Beacon Hill Institute Ben Powell's analysis of the Japanese approach:
http://mises.org/daily/1099
Brent,
Japan is a good example of how a burst bubble causes real pain. Preventing the bubble would have prevented much pain.
Japan also shows you can not simply get yourself out of a recession with monetary stimulus if the unemployment is "Austrian:" caused by bubble induced distortions.
Thanks Malcolm,
Didn't mean to leave 2 comments earlier. Didn't know that the first one went through as I was downloading some other software and everything disappeared for a moment. The second comment was a second attempt to say the same thing. I really wanted to link Powell's more recent analysis in the "Free Market" Mises publication but I'm not sure how to get it's archives. Do you know how?
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