The Heisei Recession started in 1992, but in terms of inflation, the growth rate and other key variables, Japan’s real economic problems began in 1997

The Heisei Recession started in 1992, but in terms of inflation, the growth rate and other key variables, Japan’s real economic problems began in 1997

The Heisei Recession started in 1992, but in terms of inflation, the growth rate and other key variables, Japan’s real economic problems began in 1997.Critically discuss this statement

(Remember, you do not have to agree with it).

(Don’t just talk about prices and the growth in output note the reference to other key variables which you should also talk about. Also note that the only reason these variables are interesting is because they tell us about the health of the economy as a whole, and its prospects for recovery, so consider and discuss those issues as well.