14:00-15:00

The World in a Balance Sheet Recession: Gaining Insight from the Japanese Experience

Chief Economist
Nomura Research Institute

  • The unique characteristics of a balance sheet recession
  • The problem of rating agencies during a balance sheet recession
  • The real “danger of double dip,” posed by the inability of democracies to maintain needed fiscal stimulus during peacetime
  • The importance of separating a financial crisis (the lender’s problem) from a balance sheet recession (the borrower’s problem)