Good deflation/bad deflation and Japanese economic recovery

Abstract

Japan’s deflation, Deflation and technological change,

Transatlantic banking crisis: analysis, rating, policy issues

“…One should not anticipate that the banking crisis simply will be a remake of the Transatlantic Banking Crisis of 2007-09; changing the rules of the financial game will bring about new financial products and new fields into which liquidity will flow and on which financial entrepreneurship will focus on. There is a serious risk of delayed and incomplete financial sector reforms -and this would come at a high cost to society if Japan's banking crisis of the 1990s should be repeated in a modified form (Kamada and Takagawa 2005;Kawai 2005;Ahearne and Shinada 2005;Saxonhouse and Stern 2005;Hamada and Noguchi 2005;Hori and Shimizutani 2005;Ihori and Nakamoto 2005;Saxonhouse 2005;Ito 2005;Fatum and Hutchison 2005;McKinnon 2005). If "wash sales" are no longer allowed and those investing in derivatives must hold the underlying assets, one may expect less volatility in certain markets in the short run.…”