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The Looming Japanese Crisis

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  • Adam S. Posen

    () (Peterson Institute for International Economics)

Abstract

After more than a decade of economic stagnation and minimal structural change, Japan stands on the brink of outright financial crisis--the only debate is whether the Japanese government can dodge its imminent economic threats for another six months at most, or ride the wave of global expansion to throw still more money at these problems with decreasing effectiveness until the public debt becomes unsustainable (which should be no later than 2005). Either way, volatility in Japanese asset markets will be extremely high for the next 36 months, with significant declines on average in asset prices and the yen.

Suggested Citation

  • Adam S. Posen, 2002. "The Looming Japanese Crisis," Policy Briefs PB02-05, Peterson Institute for International Economics.
  • Handle: RePEc:iie:pbrief:pb02-05
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    File URL: https://piie.com/publications/policy-briefs/looming-japanese-crisis
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    Cited by:

    1. Pierre Fortin, 2003. "Issues and Commentaries Issues et commentaires Keynes Resurrected," Canadian Public Policy, University of Toronto Press, vol. 29(2), pages 253-265, June.
    2. Joerg Bibow, 2004. "Fiscal Consolidation Contrasting Strategies & Lessons from International Experience," Macroeconomics 0402014, EconWPA.
    3. Kuttner, Kenneth N. & Posen, Adam S., 2004. "The difficulty of discerning what's too tight: Taylor rules and Japanese monetary policy," The North American Journal of Economics and Finance, Elsevier, vol. 15(1), pages 53-74, March.

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