Are Japanese Nominal Wages Downwardly Rigid?: Examinations of nominal wage change distributions
Author: Sachiko Kuroda
Publisher:
Published: 2003
Total Pages:
ISBN-13:
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Author: Sachiko Kuroda
Publisher:
Published: 2003
Total Pages:
ISBN-13:
DOWNLOAD EBOOKAuthor: Isamu Yamamoto Sachico Kuroda
Publisher:
Published:
Total Pages: 40
ISBN-13:
DOWNLOAD EBOOKAuthor: Sachiko Kuroda
Publisher:
Published: 2003
Total Pages: 40
ISBN-13:
DOWNLOAD EBOOKAuthor: Sachiko Kuroda
Publisher:
Published: 2003
Total Pages: 50
ISBN-13:
DOWNLOAD EBOOKAuthor: Sachiko Kuroda
Publisher:
Published: 2006
Total Pages: 68
ISBN-13:
DOWNLOAD EBOOK"In this paper, we survey the theoretical and empirical literature to investigate why nominal wages can be downwardly rigid. Looking back from the 19th century until recently, we first examine the existence and extent of downward nominal wage rigidity (DNWR) for several countries. We find that (1) nominal wages were flexible in the 19th century and first half of the 20th century, but (2) nominal wages were downwardly rigid in almost all industrialized countries in the second half of the 20th century, although (3) the extent of DNWR varied from country to country. Next, we use a behavioral economics framework to explain the reasons for DNWR. We also explain why the existence and extent of DNWR varied between time periods and/or from country to country, focusing on differences in the labor market characteristics (such as labor mobility and employment protection legislation) and in the macroeconomic environment (such as economic growth and inflation), which can alter employees' and firms' perceptions toward nominal wage cuts."--Authors' abstract.
Author: Sachiko Kuroda
Publisher:
Published: 2003
Total Pages: 70
ISBN-13:
DOWNLOAD EBOOKAuthor: Sachiko Kuroda
Publisher:
Published: 2005
Total Pages: 50
ISBN-13:
DOWNLOAD EBOOKAuthor: Mr.Taimur Baig
Publisher: International Monetary Fund
Published: 2003-11-01
Total Pages: 28
ISBN-13: 1451875061
DOWNLOAD EBOOKThis 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 examined. It is seen that the generalized decline in the Japanese price level, however gradual or mild, has substantially exacerbated the economy's adjustment process under already difficult economic conditions.
Author: Sachiko Kuroda
Publisher:
Published: 2003
Total Pages: 50
ISBN-13:
DOWNLOAD EBOOKAuthor: Takatoshi Ito
Publisher: MIT Press
Published: 2020-01-28
Total Pages: 617
ISBN-13: 0262538245
DOWNLOAD EBOOKThe second edition of a comprehensive account of all the major aspects of the Japanese economy, substantially updated and expanded. This textbook offers a comprehensive, rigorous but accessible account of all the major aspects of the Japanese economy, grounding its approach in mainstream economics. The second edition has been extensively revised and substantially updated, with new material that covers Japan's period of economic stagnation between 1991 and 2010. The first edition, published in 1992, focused on Japan as a success story of catch-up economic development; this edition reflects the lessons learned from Japan's Lost Two Decades. After presenting the historical background, the book begins with macroeconomics, studying growth and business cycles. It then covers essential policy issues, with new material that takes into account the Japanese banking crisis of 1997–1998 and the global financial crisis of 2008–2009, discussing financial regulation, monetary policy, and fiscal policy. It goes on to examine saving, demography, and social security in light of Japan's ongoing demographic transition; industrial organization; labor markets; international trade and international finance; and the Japan–U.S. relationship. A new chapter offers a detailed analysis of the Lost Two Decades, synthesizing and applying concepts discussed in previous chapters and offering insights into such issues as successful catch-up growth, demographic shifts, and credit booms and busts.