Masazumi Wakatabe, Waseda University

The long stagnation of the Japanese economy from the early 90s to present is receiving a greater attention. Why this happened? And more importantly, what are the possible way out? The course explores the causes and remedies for this ‘Great Stagnation'. It will examine validity of several major and sometimes conflicting explanations, with special attention to another deflationary economic crisis, i.e. the Great Depression.

The knowledge of economics at intermediate level. the Japanese economy and economic history during the Inter-war period would be helpful, but not required.