, a period which included deflation. We found that nominal wages remained rigid to downward pressure by expected deflation …

Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the … advanced countries as well, but we find that deflation risk from aging is not inevitable as ambitious structural reforms and an …

This 2013 Article IV Consultation highlights that on the back of new policy framework, growth in Japan accelerated …

interest rates are bounded by zero and deflation sets in. Since Krugman (1998), the commonplace observation is that the …

interest rates are bounded by zero and deflation sets in. Since Krugman (1998), the commonplace observation is that the …

. Deflation subsided by 2005. As soon as inflation appeared to stabilize near a rate of zero, the Bank of Japan rapidly reduced … of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between …

deflation combined with low nominal interest rates. He was also focused on Japan and on an evaluation of its monetary policy of …

policy outcomes between central banks such as the Federal Reserve and the Bank of Japan despite a common policy instrument …, such as the one that characterized Japan, Taylor-type rules may offer no solution to the indeterminacy problem. The paper …

The Bank of Japan permitted a ten-year period of deflation (1995-2005) which appears to have ended in 2006. The … deflationary expectations, the Bank of Japan employed deflation as a disciplining instrument to limit real debt. … deflation, as well as the preceding disinflation, adversely affected the financial and real sectors of the economy that in turn …

Has deflation contributed to the long lasting stagnation of the Japanese economy? Could the Bank of Japan have stopped … deflation by implementing a more expansionary monetary policy? Our tentative answers are probably not to the first question, and … probably yes to the second question. We find that the total cost of deflation over the period 1995-2003 has been close to a 1 …