This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the … experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking … parallels. It is found that the poor reputation of the Bank of Japan (BoJ) is, at times, underserved. To be sure, there were …

in the risk balance throughout our evaluation period because of the implied amplification of deflation risks. We then …