Econbrowser: How long can Japanese bond prices defy gravity?That's the question posed in an interesting new paper by UCSD Professor Takeo Hoshi and University of Tokyo Professor Takatoshi Ito. Although there has been much discussion recently of debt levels of some European governments, Japan is in a class by itself. Hoshi and Ito (2012) note the consensus among academic researchers that Japan's current fiscal path is unsustainable: Doi (2009), Doi, Hoshi,
