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You're reading: Japan effects may run deeper than GDP
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Macroeconomists have largely concluded that Japan won’t shave more than a few tenths of a percentage point off global growth, even though it is the world’s third-largest economy and looks likely to slip into a brief recession.

Hung Tran, deputy managing director of the Institute of International Finance, said the direct GDP impact from Japan will most likely be "small and reversible," but the indirect effects may be large and long-lasting.

The IIF’s market monitoring group, which includes bank executives and former policymakers, warned last week that Japan might cause investors to factor in a higher "uncertainty premium," which would drive up the price of oil and other assets.

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