Understanding the Costs of Deflation in the Japanese Context

Understanding the Costs of Deflation in the Japanese Context
This paper examines the cost of deflation in the context of Japan's ongoing deflationary episode. The impact of deflation owing to the zero interest rate bound on monetary policy, wage rigidity, redistribution of wealth from debtor to creditor, and inflexibilities in the financial sector are examined. It is seen that the generalized decline in... READ MORE...

Publication date: November 2003
ISBN 9781451875065
$15.00

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