The Bank of Japan’s policy rate has hovered around zero for more than 20 years. Economists have been warning for years that the U.S. economy could start to look like Japan’s, using the term “Japanification” to describe that change. But Bernstein Research is questioning the comparison. From a distance, there are obvious similarities between the U.S. and Japan. Both countries implemented ultra-loose monetary policies after debt-fueled financial crises. And, despite their central banks’ best […]