Despite a new batch of promising data out of Japan on Friday, deflation —a key part of the destructive economic spiral that Prime Minister Shinzo Abe has vowed to reverse—stubbornly persisted. Core consumer prices fell … [...]
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Proverbs 9:8 Do not rebuke a mocker or he will hate you; rebuke a wise man and he will love you. Instruct a wise man and he will be wiser still; teach a righteous man and he will add to his learning (by count down to zero [...] Success of the Keynesian-Neoclassical synthesis eclipsed the debt- deflation hypothesis until Minsky in 1974 retrieved it to shape his own financial instability hypothesis. Minsky supported a view that the business cycle was a … [...] RT is the first Russian 24/7 English-language news channel which brings the Russian view on global [...] A ” Minsky Moment” in which both the lender (“patient capitalist”) and the borrower (“impatient capitalist”) finally realise that theirs is sheer “speculation” and that the “profits” they anticipated from production are not going to materialise …. But Krugman simply “has” to confront this problem – and he does, as we saw, when he acknowledges that “debt-deleveraging” (or Fisherian debt- deflationary ) “shocks” occur when our dear “patient and impatient” capitalists “suddenly … [...] Outgoing Bank of Japan Governor Masaaki Shirakawa warned on Tuesday there is no quick way to fix an economy that has suffered 15 years of deflation and that aggressive money printing alone was [...] In a recent column, he cited Minsky ostensibly to defend Alan Greenspan's loose monetary policies. Krugman … In endorsing Minsky's view, Krugman is coming closer to the truth. But he … Or another one: Deflation is [...] We should not read too much in one data-point. But we also should take it serious: there might well be some kind of deflation shock in Japan . Which adds some background to the aggressive reflation policies proposed by … [...] |
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Fixing Japan's deflation requires labour-market reforms | vox
Abenomics is all the rage. Japan's GDP grew at an annual rate of 3.5% in the first quarter, the stock market went up by almost 30% since December, and despite some uncertainties, sentiments, consumption, and exports are … [...]