Wage-Price Dynamics and Structural Reforms in Japan

Wage-Price Dynamics and Structural Reforms in Japan
Structural reforms in the liquidity trap need not be deflationary. This paper develops a simple framework to study the role that key characteristics of Japan's labor and product markets-labor-market duality and weak corporate governance-play in generating unfavorable wage-price dynamics. The model allows a discussion of whether and in what form... READ MORE...

Publication date: February 2016
ISBN 9781498316637
$18.00

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