The Japanese Economy: Both Barrels? by Ryan Avent
I think I lean toward Mr Posen's view. Fiscal stimulus is neither necessary or sufficient for Japanese recovery, and though it could enhance a new monetary expansion it also carries some potentially serious risks. But I'm not that confident in the conclusion. Japan is a strange case. I suppose that makes the big upside of the situation (for economists, not the Japanese) the possibility that we'll learn something.I disagree and agree with Krugman.
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