Wadhwani, Sushil B. - Centre for Economic Performance, LSE - 2013
Although the economic recovery in the UK has been disappointing, it is inappropriate to either assert that Japan's two … lost decades illustrate the ineffectiveness of stimulative monetary policy or that the UK is predestined to perform as … badly as Japan. Recall that the UK has, so far, avoided the deflation that held back the Japanese economy. One could …