Europe Making Same Mistakes as Japan in 1990s

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Property in Europe, June 2011
Photo credit: 
Flickr user Images Money
As cited in Victoria McGrane's blog in the Wall Street Journal, Stanford economist Takeo Hoshi argues in a coauthored paper that Europe is making the same mistakes that Japan did during the 1990s and as a result is likely to suffer a similarly prolonged period of stagnant growth.