Japan managed to avoid the worst of the subprime collapse in 2007, with most of its major institutions emerging in robust shape. But the impact of second-order effects triggered by the global financial crisis caused acute problems in the Japanese real economy, resulting in pronounced declines in equity and real estate prices, along with a gapping of fixed-income spreads. Moreover, these effects have tended to last longer than similar downturns in Europe and the US.
At the sam
The week on Risk.net, March 10-16 2018Receive this by email