Richard Koo: The Ying Yang Cycle of Bubbles and Balance Sheet Recessions
An interesting chart from a presentation by Richard C. Koo, Chief Economist, Nomura Research Institute, Tokyo:
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Source: The Age of Balance Sheet Recessions: What Post-2008 U.S., Europe and China Can Learn from Japan 1990-2005 by Richard C. Koo, Nomura Research Institute
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[...] de Nomura, muy seguido en el mundo anglosajón. Lo bautizó ya hace casi un año como el ying-la sombra y el yang-la luz de las burbujas y las recesiones que afectan al balance tanto del sector privado como del público de la economÃa. Para el autor, [...]