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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The Ying Yang Cycle of Bubbles and Balance Sheet Recessions

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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