The Japanese Bubble: A 'Heterogeneous' Approach
NBER Working Paper No. 15052
---- Acknowledgments ----
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.