NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Japanese Bubble: A 'Heterogeneous' Approach

Robert B. Barsky

NBER Working Paper No. 15052
Issued in June 2009

---- Acknowledgements -----

This paper was prepared for a conference volume on the Japanese Bubble, Deflation, and Long-term Stagnation edited by Koichi Hamada, Anil Kashyap, and David Weinstein. I am especially grateful to the editors as well as to the discussants of previous conference drafts - Xavier Gabaix, Wei Xiong, and Terence Odean - for valuable comments that substantially improved the paper. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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