This paper is based on the first chapter of my thesis at the Johns Hopkins University. I thank the editor, Kenneth West, and three anonymous referees for their feedback. I am indebted to my advisor, Laurence Ball, for his guidance. I am grateful to Alan Ahearne, Chris Carroll, Carl Christ, Robert Davies, Hali Edison, Jon Faust, Yasuo Hirose, Michael Kiley, Takeshi Kudo, Kenneth Kuttner, Douglas Laxton, Andrew Levin, Louis Maccini, Athanasios Orphanides, Adrian Pagan, Erwan Quintin, John Roberts, Jirka Slacalek, Tsutomu Watanabe, Mark Wynne, Naoyuki Yoshino, and participants at various seminars for valuable comments and suggestions. Any errors are mine. I am an economist in the research team of the Reserve Bank of New Zealand.
What Makes the Output–Inflation Trade-Off Change? The Absence of Accelerating Deflation in Japan
Article first published online: 10 AUG 2009
© 2009 The Ohio State University
Journal of Money, Credit and Banking
Volume 41, Issue 6, pages 1117–1140, September 2009
How to Cite
DE VEIRMAN, E. (2009), What Makes the Output–Inflation Trade-Off Change? The Absence of Accelerating Deflation in Japan. Journal of Money, Credit and Banking, 41: 1117–1140. doi: 10.1111/j.1538-4616.2009.00249.x
- Issue published online: 10 AUG 2009
- Article first published online: 10 AUG 2009
- Received January 16, 2007; and accepted in revised form March 16, 2009.
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