Add to ORKGIn this comment, I first propose a discussion of Braun and Waki’s “Monetary Policy during Japan’s Lost Decade ” paper, by examining their model properties following a technological surprise. I then propose some empirical evidence suggesting that the Japanese lost decade could have been triggered by a downward revision of future TFP growth rather by a unexpected TFP slowdown. I show that a plain RBC model is unable to account for the effect of such a revision in expectation, while a sticky price model in the lines of Braun and Waki, or a flex-price model with a rich sectorial structure give more realistic predictions. These results favor a “News ” view of the Nineties in Japan. Indeed, a downward revision of future TFP growth expectations ac...
Japan's 'lost decade' of the 1990s is more than 10 years of economic downturn. The fact that a furth...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
The saving rate in Japan has declined rapidly. Analyzing the possible four factors that could affect...
Why was the 1990s a lost decade for Japan? How is it possible that the Japanese economy stagnated fo...
Hayashi and Prescott [2002. The 1990s in Japan: a lost decade. Review of Economic Dynamics 5, 206-23...
Many elements of Japan's economic stagnation the 1990s are reasonably well explained a modern, 'synt...
Two striking aspects of the Japanese stagnation of the 1990s are its severity and especially its per...
Abstract: Many economists dismiss the role of positive supply shocks as a cause of Japan’s deflation...
*We are grateful to the discussant, Kiyohiko G. Nishimura, and participants of the CIRJE-TCER Macro ...
This paper examines the decade-long economic slump in Japan during the 1990s. In the neoclassical g...
Many economists dismiss the role of positive supply shocks as a cause of Japan's deflation. Indeed, ...
Abstract Many economists dismiss the role of positive supply shocks as a cause of Japan’s deflation....
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
Japan's 'lost decade' of the 1990s is more than 10 years of economic downturn. The fact that a furth...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
The saving rate in Japan has declined rapidly. Analyzing the possible four factors that could affect...
Why was the 1990s a lost decade for Japan? How is it possible that the Japanese economy stagnated fo...
Hayashi and Prescott [2002. The 1990s in Japan: a lost decade. Review of Economic Dynamics 5, 206-23...
Many elements of Japan's economic stagnation the 1990s are reasonably well explained a modern, 'synt...
Two striking aspects of the Japanese stagnation of the 1990s are its severity and especially its per...
Abstract: Many economists dismiss the role of positive supply shocks as a cause of Japan’s deflation...
*We are grateful to the discussant, Kiyohiko G. Nishimura, and participants of the CIRJE-TCER Macro ...
This paper examines the decade-long economic slump in Japan during the 1990s. In the neoclassical g...
Many economists dismiss the role of positive supply shocks as a cause of Japan's deflation. Indeed, ...
Abstract Many economists dismiss the role of positive supply shocks as a cause of Japan’s deflation....
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
Japan's 'lost decade' of the 1990s is more than 10 years of economic downturn. The fact that a furth...
For Japan the nineties are regarded as the lost decade, due to slow economic growth in the formerly ...
The saving rate in Japan has declined rapidly. Analyzing the possible four factors that could affect...