Research Digest: Re-estimating the Rate of Deflation in Japan
نویسندگان
چکیده
Although there have been a very limited number of cases of defl ation in a developed country, one such case occurred in the United States during the Great Depression in the 1930s, where an annualized 7% price plunge was observed. Compared to this, the present defl ation in Japan can be considered as a moderate price decline continuing over a very long period. The fact that defl ation has not been so rapid in Japan while people have claimed that the country has been suffering from a stagnant economy for more than a decade is drawing close attention among researchers and businesspersons overseas as well as domestically.
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