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Japan’s Trap


  • Krugman, Paul

    (University of Princeton)


From the beginning of modern macroeconomics the real-world possibility of the liquidity trap situation that was initially discovered in quasi-static models became a matter of great debate. Using a simple macroeconomic model the author shows how the liquidity trap could be realized in dynamic context. The finding for interpretation of the causes of the depressive conditions that the Japan’s economy endures from the beginning of the 1990-s are used.

Suggested Citation

  • Krugman, Paul, 2015. "Japan’s Trap," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 177-194, February.
  • Handle: RePEc:rnp:ecopol:ep2015

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    References listed on IDEAS

    1. Maxim Kotsemir, 2012. "Dynamics of Russian and World Science through the Prism of International Publications," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 6(1), pages 38-58.
    2. repec:spr:scient:v:93:y:2012:i:2:d:10.1007_s11192-012-0698-5 is not listed on IDEAS
    3. repec:spr:scient:v:59:y:2004:i:3:d:10.1023_b:scie.0000018539.93567.d8 is not listed on IDEAS
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