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

Richard C. Koo

This book is about Japan′s 15–year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far–reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked.

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