– Japan’s PostBubble Experience in Monetary Policy Studies –”, Keynote Address at Second IJCB Fall Conference hosted by the Institute for Monetary and Economic Studies, the Bank of Japan, September 16, 2010 (available at http://www.boj.or.jp/en/type/press/koen07/ko1009c.htm). 2  See Shirakawa, Masaaki, “Way out of Economic and Financial Crisis: Lessons and PoliCY Actions”, Speech at Japan Society in New York, April 23, 2009 (available at http://www.boj.or.jp/en/type/press/koen07/ko0904c.htm).
BIS Review 131/2010  1  Second, the sharp contraction of economic activity after the burst of the bubble in Japan occurred when interbank funding markets became destabilized. That decline, however, was much smaller than those in many countries, including Japan, after the failure of Lehman Brothers in the fall of 2008.