JAPAN'S DEFLATIONARY HANGOVER: WAGE STAGNATION AND THE SYNDROME OF THE EVER-WEAKER YEN

Article, Research OPEN
RONALD MCKINNON;
(2007)
  • Publisher: Asian Development Bank Institute (ADBI) Tokyo
  • Journal: The Singapore Economic Review,volume 52,issue 3,pages309-334
  • Subject: Japan, exchange rate risk, deflation | E31 | F31 | Japan | Wechselkurs | Deflation | E58 | Geldpolitik
    • ddc: ddc:330

Japan still suffers a deflationary hangover from the great episodic yen appreciations of the 1980s into the mid-1990s. Money wages are still declining, and short-term interest rates remain trapped near zero. After Japan's 'lost decade' from 1992 to 2002, however, output... View more
Share - Bookmark