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This paper describes a theoretical and empirical study of the Japanese macroeconomy that focuses on the role of predetermined nominal wages in the relation between monetary policy and aggregate output. The main features of the model are that nominal wage rates set at Shunto are equal to rational...
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This article tests the Black's hypothesis in five crisis-affected Asian countries (India, Japan, Malaysia, South Korea … Granger causes output growth in two economies, Japan, and South Korea. The results indicate that countries with specialized …
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This paper backtests a nowcast of Japan's real GDP growth. Its distinguishing features are use of genuine real …
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