Hirakata, Naohisa; Iwasaki, Yuto; Kawai, Masahiro - 2014
supply shock in the PRC. Specifically, Japan is under a greater deflationary pressure than the US because of its vertical … countries and analyze the impact of a supply shock in an emerging economy, the People's Republic of China (PRC), on inflation … rates in two developed economies, the United States (US) and Japan. We demonstrate that the assumed asymmetric trade …