Of course, the usual disclaimer applies to my remarks: I will express my own views, and you should not interpret them as the position of the Federal Open Market Committee or of the Board of Governors.
Looking at the  6  Nishimura, K. G., T. Nakajima, K. Kiyota (2005), “Does Natural Selection Mechanism Still Work in Severe Recessions? – Examination of the Japanese Economy in the 1990s –”, Journal of Economic Behavior and Organization, 58:1 (2005), pp.53–78.