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Recent Posts

Quantitative easing around the world: lessons from Japan, UK and US

QE was effectively born in Japan , a country plagued in recent history by deflation and rolling recession. The phrase “quantitative easing” was coined to describe Japan's efforts to kickstart growth and get prices rising [...]

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 [...]

Japan Drops "Deflation" From Economic View As Prices Pick Up

Japan dropped the term ” deflation ” in describing its economy for the first time in four years amid signs of consumer prices picking up, an indication the government has made progress in its battle with 15 years of grinding price  … [...]

Overcoming Deflation: The Bank of Japan's Challenge – Council on …

Haruhiko Kuroda, governor of the Bank of Japan , discusses the challenges of overcoming deflation and Japan's economic [...]

International Political Economy Zone: Japan 'Defeating' Deflation …

There is much debate in Japan as to whether the Bank of Japan's efforts to pull the country out of a deflationary spiral are bearing fruit. True, Japan's consumer prince index is actually showing a positive trend, but this may be  … [...]

Fuel Fix » Data show Japan remains mired in deflation

Factory output picked up in April but consumer prices continued to fall and manufacturers forecast further weakness ahead. Read more from Financial Times. Comment. Comments( ). |. Email. E-mail. |. Print … [...]

What is Modern Monetary Theory, or “MMT”? « naked capitalism

The great virtue of modern, fiat money is that it can be managed flexibly enough to prevent *both* deflation and also any truly damaging level of inflation – that is, a situation where prices are rising faster than wages, or where both are ….. Some of MMT's other notable academic progenitors include Hyman Minsky , Abba Lerner and, more recently, the English economist Wynne Godley, whose emphasis on achieving consistency in the analysis of economic stocks and … [...]

Deflation in Japan? – The Mises Economics Blog

The topic of deflation has risen to new heights in Japan because the new Prime Minister has promised to fight deflation and to set new minimum inflation targets for the Bank of Japan [...]

Incorporating the Rentier Sectors into a Financial Model | Michael …

Introduction. Now that the Bubble Economy has given way to debt deflation , the world is discovering the shortcoming of models that fail to explain how most credit creation today (1) inflates asset prices without raising commodity prices or wage levels, and (2) creates a reciprocal flow of debt service. This debt service tends to rise as a proportion of personal ….. Minsky , Financial Development and Crisis. Basingstoke, Hampshire UK: Palgrave MacMillan. Stockhammer E … [...]

Sober Look: Japan's catch-22

But these figures are a stretch for a deflation -hobbled Japan that hasn't seen such growth rates since the early 1990s. This is a no win situation. Waiting for strong growth, particularly in this environment maybe futile. And the … [...]