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Deflation: pros, cons, Japan case
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Module 3
Case Study: Japan's Deflationary Era
1
Japan's Bubble Economy and Lost Decades
Describe the macroeconomic conditions in Japan leading up to its 'lost decades,' focusing on the asset price bubble of the late 1980s.
Describe the macroeconomic conditions in Japan leading up to its 'lost decades,' focusing on the asset price bubble of the late 1980s.
2
Japan's Deflationary Journey: 1990-Present
Chart the timeline of Japan's deflation from 1990 to the present, identifying distinct phases using core CPI and real GDP growth data.
Chart the timeline of Japan's deflation from 1990 to the present, identifying distinct phases using core CPI and real GDP growth data.
3
Japan's Deflation: Policy Responses and Timeline
Map the major monetary and fiscal policy responses to the corresponding phases of Japan's deflationary timeline.
Map the major monetary and fiscal policy responses to the corresponding phases of Japan's deflationary timeline.
4
Japan's Monetary Policy: ZIRP and QE Effectiveness
Evaluate the effectiveness of Japan's monetary policy responses, including Zero Interest-Rate Policy (ZIRP) and Quantitative Easing (QE).
Evaluate the effectiveness of Japan's monetary policy responses, including Zero Interest-Rate Policy (ZIRP) and Quantitative Easing (QE).
5
Japan's Liquidity Trap: An Empirical Assessment
Critically assess the argument that Japan was in a liquidity trap, using the empirical criteria developed earlier to analyze relevant data.
Critically assess the argument that Japan was in a liquidity trap, using the empirical criteria developed earlier to analyze relevant data.
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The Deflation Debate and Historical Precedent
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