Urasawa, Satoshi - In: Applied Economics Letters 21 (2014) 11, pp. 742-746
Is weak demand pressure alone sufficient to explain Japan's long-standing deflation? The empirical evidence, based on a …'s deflation. It suggests that sluggish wage growth since the mid-1990s, along with productivity recovery from the collapse of the … Japanese asset price bubble, contributed to the persistence of deflation, while weak demand pressure had a large negative …