Is the Persistence of Japan's Low Rate of Deflation a Problem? Export

@inproceedings{citeulike:3658763, abstract = {This paper comprises two parts. In the first part, we discuss why the deflation rate that persists in Japan is small. The combination of this small rate and its persistence is the most remarkable feature of Japan's deflation in the last decade. We may interpret this deflation as a transition process from one inflationary steady state equilibrium to another inflationary steady state equilibrium. In the second part, it is shown that this weak deflation can significantly decrease corporate profits in the presence of wage rate rigidity. As a result, a long-term recession was generated.}, author = {Okada, Yasushi}, citeulike-article-id = {3658763}, citeulike-linkout-0 = {http://www.esri.go.jp/en/workshop/060914/okada02.pdf}, comment = {http://www.esri.go.jp/jp/workshop/060914/060914gijisidai.html slide: http://www.esri.go.jp/en/workshop/060914/okada.pdf ---=note-separator=--- via:http://d.hatena.ne.jp/tanakahidetomi/20081112\#p1}, keywords = {economics}, posted-at = {2008-11-22 03:07:18}, priority = {2}, title = {Is the Persistence of Japan's Low Rate of Deflation a Problem?}, url = {http://www.esri.go.jp/en/workshop/060914/okada02.pdf} }

TY - CONF ID - citeulike:3658763 L3 - citeulike-article-id:3658763 N2 - This paper comprises two parts. In the first part, we discuss why the deflation rate that persists in Japan is small. The combination of this small rate and its persistence is the most remarkable feature of Japan’s deflation in the last decade. We may interpret this deflation as a transition process from one inflationary steady state equilibrium to another inflationary steady state equilibrium. In the second part, it is shown that this weak deflation can significantly decrease corporate profits in the presence of wage rate rigidity. As a result, a long-term recession was generated. TI - Is the Persistence of Japan's Low Rate of Deflation a Problem? KW - economics N1 - http://www.esri.go.jp/jp/workshop/060914/060914gijisidai.html slide: http://www.esri.go.jp/en/workshop/060914/okada.pdf N1 - via:http://d.hatena.ne.jp/tanakahidetomi/20081112#p1 AU - Okada, Yasushi UR - http://www.esri.go.jp/en/workshop/060914/okada02.pdf ER -