This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece …

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 …