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Japan's Phillips Curve Looks Like Japan
Author(s) -
SMITH GREGOR W.
Publication year - 2008
Publication title -
journal of money, credit and banking
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.763
H-Index - 108
eISSN - 1538-4616
pISSN - 0022-2879
DOI - 10.1111/j.1538-4616.2008.00160.x
Subject(s) - phillips curve , inflation (cosmology) , unemployment , keynesian economics , economics , demographic economics , econometrics , macroeconomics , physics , theoretical physics
During the past 15 years Japan has experienced unprecedented, high unemployment rates and low (often negative) inflation rates. This research shows that these outcomes were predictable as part of a stable, readily recognized Phillips curve.