Richard Koo: Where do we go from here? 3/5

The speaker discusses the concept of balance sheet recessions, drawing from Japan's experience and comparing it to the Western world. He highlights the ineffectiveness of traditional monetary policies during such recessions and emphasizes the need for government intervention. The Eurozone's unique challenges are also explored, particularly the impact of capital flows and fiscal constraints. The talk concludes with a call for understanding and addressing these economic phenomena.

What lessons does the speaker believe should be learned from Japan's economic experience?

In what ways does the speaker suggest that austerity measures can be detrimental during a recession?

What does the speaker identify as a key difference in the economic situations of the eurozone compared to the US and UK?

How does the speaker propose to address the issues arising from balance sheet recessions?