, 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 …

inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross … the theory predicts. Keywords: inflation, deflation, menu costs, Hong Kong, Japan. … both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as …

We test the menu cost model of Ball and Mankiw (1994, 1995) on data from the inflation and deflation periods in Japan … during both inflation and deflation, is strongly supported. The data are less clear on, but does not reject, the hypothesis … that the parameter on the standard deviation changes sign between inflation and deflation periods. …

. 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 …