Hawtreyan ‘Credit Deadlock’ or Keynesian ‘Liquidity Trap’? Lessons for Japan from the Great Depression

  • Roger J. Sandilands


In this chapter, much inspired by David Laidler’s work in the field of monetary theory and policy, I shall compare the mistakes of monetary policy before and during the Great Depression in the United States in the 1930s with the conduct of monetary policy in Japan since the late 1980s.


Interest Rate Monetary Policy Central Bank Fiscal Policy Money Supply 
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© Roger J. Sandilands 2010

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  • Roger J. Sandilands

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