Understanding the Costs of Deflation in the Japanese Context /
This paper examines the cost of deflation in the context of Japan's ongoing deflationary episode. The impact of deflation owing to the zero interest rate bound on monetary policy, wage rigidity, redistribution of wealth from debtor to creditor, and inflexibilities in the financial sector are ex...
| Autor principal: | |
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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2003.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2003/215 |
| Acceso en línea: | Full text available on IMF |