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Recent Posts

Economic Logic: Ageing and deflation in Japan

Ageing and deflation in Japan . Inflation rates across industrialized economies have been remarkably low in the past decades, and at the same time these economies have been subject to considerable demographic [...]

aangirfan: EXPECT DEFLATION FOLLOWED BY INFLATION?

7. Japan's central bank will cancel all the government bonds that it has bought from the Japanese government. Japan's central bank will thus have less capital. The Japanese government will thus not have to pay 'interest',  … [...]

The Skeptical Speculator: BoJ sees end to Japan's deflation, US …

Japan reported on Friday that its consumer prices excluding fresh food fell 0.5 percent in March from the previous year, signalling continued deflation . There was no immediate reaction from the Bank of Japan . Its latest … [...]

The State as the Employer of last Resort ~ Global Labour Column

The deflationary exit strategy from the crisis advocated by the European elites can only lead to a long, painful recession. In the wake … Here, Minsky identifies two anti-unemployment strategies that are richly instructive [...]

The Economics Forum 21: The Minsky Moment: How Paul Krugman …

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 … [...]

Japan to inflate its way out of deflation | Peace . Gold . Liberty

The new Bank of Japan (BoJ) Governor, Haruhiko Kuroda, started work on Thursday and his first day on the job disappointed investors. At a press conference, Kuroda pledged to do whatever it takes to defeat deflation and … [...]

Greece in the deadlock of the Troika's Austerity Trap – Global Labour …

As long as the Greek debt is considered unsustainable, liquidity and solvency problems will arise, rapidly multiply, and spread to the entire economy, which will continue to evolve through a “debt- deflation ” process with catastrophic … My answer is affirmative, and this institution is Hyman Minsky's “Employer of Last Resort” (ELR) programs (see e.g. Minsky 1986, Papadimitriou and Minsky 1994) that are unique countercyclical government initiatives that show evidence … [...]

Prepare For 'Seismic Shift' in Japan | Stock Tips Investment

Since starting in 2008, Shirakawa has continued the policy of monetary easing, but failed to solve Japan's long-term issues with deflation . (Read More: What Will Fix Japan's Economy?) “There is a seismic shift in terms of the … [...]

Fisher on Debt Deflation – Social Democracy for the 21st Century

“The Debt- Deflation Theory of Great Depressions,” Econometrica 1.4: 337–357. Raines, J. Patrick and Charles G. Leathers. 2008. Debt, Innovations, and Deflation : The Theories of Veblen, Fisher, Schumpeter and Minsky [...]

Bibliography on Debt Deflation – Social Democracy for the 21st …

“The Macrodynamics of Debt Deflation ,” in Riccardo Bellofiore and Piero Ferri (eds.), Financial Fragility and Investment in the Capitalist Economy: The Economic Legacy of Hyman Minsky , Volume II. Edward Elgar, Cheltenham … [...]