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.

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