Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Asia and Pacific Department, issuing body.
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| ISBN: | 1498316638
9781498316637
9781498316637
1498318894
9781498318891
1475592620
9781475592627
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| ISSN: | 1018-5941
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| Notes: | "February 2016."
"Asia and Pacific Department."
Includes bibliographical references (pages 23-25).
Online resource; title from pdf title page (IMF.org Web site, viewed March 31, 2016).
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| Summary: | Structural reforms in the liquidity trap need not be deflationary. This paper develops a simple framework to study the role that key characteristics of Japan's labor and product markets-labor-market duality and weak corporate governance-play in generating unfavorable wage-price dynamics. The model allows a discussion of whether and in what form structural reforms may contribute to Japan's short-run goal of reflating the economy. It finds that boosting inflation with structural reforms implies an unusual trade-off with employment, that is an inverted Phillips curve. Simultaneous implementation of labor-market and product-market reforms is most effective in terms of reflating the economy.--Abstract.
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| Other form: | Print Version: Porcellacchia, Davide. Wage-Price Dynamics and Structural Reforms in Japan. Washington, D.C. : International Monetary Fund, 2016. 9781498316637
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| Standard no.: | 10.5089/9781498316637.001
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