Broda, Christian; Weinstein, David E. - 2007
. Little attention is paid in Japan to substitution biases and quality upgrading. This implies that important methodological … differences have emerged between the U.S. and Japan since the U.S. started to correct for these biases in 1999. We estimate that … using the new corrected U.S. methodology, Japan's deflation averaged 1.2 percent per year since 1999. This is more than …
