Mises Wire
Author:
Taiki Murai
Gunther Schnabl
Online Publish Date:
The European Central Bank’s recent move away from the exit from ultra-loose monetary policy has revived the debate on Europe’s potential “Japanification.” The Japanese scenario is gloomy. Since the bursting of the Japanese bubble in the early 1990s, growth has been stagnating, wage levels have been falling, and an increasing number of people has