Cargill, Thomas F.; Guerrero, Federico - Economics Department, University of Nevada-Reno; … - 2006
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 …