Economic History · 20th-century economies
Japan's Bubble & Lost Decades
From the Plaza Accord to the Nikkei's 1989 peak, the land bubble, the bust, zombie banks and the balance-sheet recession, deflation, zero rates and QE, Abenomics, and the Nikkei finally reclaiming its high in 2024.
Step 1 of 5 · Overview30 min read ·
Key idea
Prereqs: Bubbles & manias; Central banks. Next: The 1997 Asian crisis; The euro crisis. Sources: Richard Koo, *The Holy Grail of Macroeconomics* (2008); Bank of Japan history; Christopher Wood, *The Bubble Economy* (1992).Next: 1. The bubble