che aggiusti la crescita dell’economia per la riduzione della working age population. Analisi di questo tipo restituiscono scenari meno catastrofici sull’economia del Sol Levante. Sotto, è ...
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Lars, I don't know if you'll see this, but I'm curious if you have any thoughts on this now, 1.5 years later. Japanese financial markets have reacted incredibly positively to the monetary measure...
that George had that view when I sometime ago commented on Japanese deflation. In my comment “Japan’s deflation story is not really a horror story” I argued that “obviously, Japan ha...
Farid, I agree that a nominal GDP/WAP target probably would be preferable to a "normal" NGDP target. That said, to me the most important thing is that a transparent nominal anchor is in place - w...
I gather from your post that targeting nominal GDP/WAP might be a better long term monetary policy than targeting NGDP to say 5%. This is especially true of countries going through a demographic ...
Richard, I agree, but I guess that is also the case for most European nations. But again, I think that would just further confirm my point.
The number of hours worked per worker has declined in Japan over the past coupe of decades. An even better measure for the Japanese would be real growth in hourly wages.
Agreed about the liquidity trap. If the rest of the economic profession takes only one thing away from Market Monetarism, I hope it's that the interest rate is not the only, or even the main, mec...