Nakatani, Takeshi (contributor); Skott, Peter (contributor) - 2006
period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government …, and a combination of high saving rates and slow population growth account for the stagnation of the 1990s. This … through fiscal policy or by running a persistent trade surplus. -- Japan ; growth ; stagnation ; liquidity trap ; public debt …