Together, these studies present a compelling and consistent story of the Japanese economy. Financial system problems, largely triggered by the bursting of the asset price bubble in the early 1990s, ...

The twenty years from 1990 marked a momentous turning point for the economic and financial system of Japan. This transition is attributable to three shocks. The first shock was the bubble economy ...

Japan’s benchmark Nikkei 225 index surged Thursday past the record it set in 1989 before its financial bubble burst, ushering in an era of faltering growth. The index closed Thursday at 39,098. ...