potential impact on inflation has been studied less. We use the IMF’s Global Integrated Fiscal and Monetary Model (GIMF) and … advanced countries as well, but we find that deflation risk from aging is not inevitable as ambitious structural reforms and an …

impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

Deflation counts among the worst things that could happen to an economy, the conventional wisdom tells us. But are … is commonly made between (1) growth, (2) cash-building, (3) bank credit and (4) confiscatory deflation. When it comes to …, the word deflation has become almost synonymous with Japan and its economic problems. In this paper, the development of …

both the inflation and deflation periods, and the parameteron the second moment changes sign in the deflation period, as … inflation should differ between inflation anddeflation episodes, using data for Japan and Hong Kong. We use a random …

effect via measures of asymmetries, demand directly affects inflation. Thus, we reject the claim that the recent disinflation/deflation … asymmetry of sectoral relative-price changes and the aggregate inflation rate. This correlation is widely interpreted as … evidence that short-run inflation is determined by supply-side factors; however, we study whether, in addition to the inflation …

inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross … both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as … the theory predicts. Keywords: inflation, deflation, menu costs, Hong Kong, Japan. …

We test the menu cost model of Ball and Mankiw (1994, 1995) on data from the inflation and deflation periods in Japan … during both inflation and deflation, is strongly supported. The data are less clear on, but does not reject, the hypothesis … that the parameter on the standard deviation changes sign between inflation and deflation periods. …

yen. Inflation expectations have started to increase, and actual inflation recorded positive growth in June. The near …