by Summary:
As part of my inflation primer, I hope to dig further into Japan’s post-1990 “inflation” experience, but it does appear to be an interesting example of a fiat currency achieving price level stability. This stabilisation is ignored for two reasons:western mainstream economists are convinced that 2% inflation is the “correct” level for inflation targeting, and they browbeat Japan for “deflation,” andeverybody is predicting the imminent collapse of the Japanese yen into hyperinflation due to “unsustainable” fiscal deficits and “money printing.”Bond EconomicsFive Years Later, Not Much Doom (Yet!)...Brian Romanchuk
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
As part of my inflation primer, I hope to dig further into Japan’s post-1990 “inflation” experience, but it does appear to be an interesting example of a fiat currency achieving price level stability. This stabilisation is ignored for two reasons:western mainstream economists are convinced that 2% inflation is the “correct” level for inflation targeting, and they browbeat Japan for “deflation,” andeverybody is predicting the imminent collapse of the Japanese yen into hyperinflation due to “unsustainable” fiscal deficits and “money printing.”Bond EconomicsFive Years Later, Not Much Doom (Yet!)...Brian Romanchuk
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
New Economics Foundation writes Building hope
New Economics Foundation writes Are oil and gas workers the coalminers of our generation?
Mike Norman writes Tariffs As A Fiscal Tool? — Brian Romanchuk
John Quiggin writes Trump’s dictatorship is a fait accompli
As part of my inflation primer, I hope to dig further into Japan’s post-1990 “inflation” experience, but it does appear to be an interesting example of a fiat currency achieving price level stability. This stabilisation is ignored for two reasons:
- western mainstream economists are convinced that 2% inflation is the “correct” level for inflation targeting, and they browbeat Japan for “deflation,” and
- everybody is predicting the imminent collapse of the Japanese yen into hyperinflation due to “unsustainable” fiscal deficits and “money printing.”