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Recent Posts

An Estimated DSGE Model with a Deflation Steady State | NEP-DGE …

This paper estimates a medium-scale DSGE model with a deflation steady state for the Japanese economy during the period from 1999 to 2013, when the Bank of Japan conducted a zero interest rate policy and the [...]

Will Japan Re-enter Deflation in April 2015? – EconoMonitor

Reading the most recent statements from Bank of Japan Governor Haruhiko Kuroda or Finance Minister Taro Aso you would get the impression that the days of deflation are now well and truly numbered in Japan [...]

Edward.Hugh.Blog: Will Japan Re-enter Deflation in April 2015?

Reading the most recent statements from Bank of Japan Governor Haruhiko Kuroda or Finance Minister Taro Aso you would get the impression that the days of deflation are now well and truly numbered in Japan [...]

Deflation: history lessons | Money Supply – Blogs – Financial Times

In the bulletin, the ECB argues that “outright deflation” is very rare. While there have been several episodes of “negative annual inflation”, since the second world war there have been only two cases of “ deflation ”: Japan [...]

Hyman Minsky, Charles Darwin, and descent into the cover of minutiae

There was a curmudgeonly economist named Hyman Minsky (1919-1996). We're not economists and have only learned about him second-hand, after the fact, when what he said before the fact was born out by the [...]

Petr Polak | The Euro Deflation Crisis | Foreign Affairs | Foreign Affairs

For evidence of the ill effects of deflation , look to Japan in the 1990s, which closely resembles Europe today. There, too, the financial sector struggled under a large burden of bad loans. Like Europe, Japan also faced an [...]

Angry Bear » Japan's experience of the Fisher Effect

When Japan's call rate (the nominal rate from their central bank) went to the zero lower bound, Japan developed deflation . It was not a deflation where the bottom fell out and kept falling. It was a deflation somewhat [...]

Is Sweden headed the Japan way? | Mostly Economics

The last reading was at -0.6% fueling debates over deflation in Sweden. Krugman always on red alert to these developments started the debate – one and two . Lars Svensson, former Riksbank MPC member and deflation [...]

Krugman still thinking about Sweden — and still only gets it partly …

A ' Minsky moment' actually doesn't seem to be that far away, and we may sooner than we think face a deflationary house price spiral driving the economy to a classic Fisher-Keynes- Minsky debt deflation crisis. And this is [...]

Confounded Interest | Japan's Consumer Confidence Crashes …

Japan's industrial production also fell 2.3% last week, the biggest drop since the Tsunami. jaoanip0514. Japan is still experiencing deflation in home prices are their housing bubble peak in 1991. For comparison, U.S. [...]