Matches in SemOpenAlex for { <https://semopenalex.org/work/W3121694920> ?p ?o ?g. }
Showing items 1 to 82 of
82
with 100 items per page.
- W3121694920 endingPage "206" @default.
- W3121694920 startingPage "169" @default.
- W3121694920 abstract "Japanese monetary and fiscal policy uses the consumer price index (CPI) as a metric for price stability. Despite a major effort to improve the index, the Japanese methodology of calculating the CPI seems to have a large number of deficiencies. Little attention is paid in Japan to substitution biases and quality upgrading. This implies that important methodological differences have emerged between the United States and Japan since the former started to correct for these biases in 1999. We estimate that using the new corrected U.S. methodology, Japan fs deflation averaged 1.2 percent per year since 1999. This is more than twice the deflation suggested by Japanese national statistics. Ignoring these methodological differences is misleading, because it would suggest that U.S. real per capita consumption growth has been growing at a rate that is almost 2 percentage points higher than that of Japan between 1999 and 2006. When a common methodology is used, Japan fs growth has been much closer to that of the United States over this period. Moreover, we estimate that the bias of the Japanese CPI relative to a true cost-of- living index is around 2 percent per year. This overstatement in the Japanese CPI in combination with Japan fs low inflation rate is likely to cost the government more than 69 trillion?or 14 percent of GDP?over the next 10 years in increased Social Security transfers and debt service. For monetary policy, the overstatement of inflation suggests that if the BOJ adopts a formal inflation target without changing the current CPI methodology, a lower band of less than 1.8 percent would not achieve its goal of price stability." @default.
- W3121694920 created "2021-02-01" @default.
- W3121694920 creator A5077982232 @default.
- W3121694920 creator A5088829001 @default.
- W3121694920 date "2007-01-01" @default.
- W3121694920 modified "2023-09-23" @default.
- W3121694920 title "Defining Price Stability in Japan: A View from America" @default.
- W3121694920 hasPublicationYear "2007" @default.
- W3121694920 type Work @default.
- W3121694920 sameAs 3121694920 @default.
- W3121694920 citedByCount "0" @default.
- W3121694920 crossrefType "posted-content" @default.
- W3121694920 hasAuthorship W3121694920A5077982232 @default.
- W3121694920 hasAuthorship W3121694920A5088829001 @default.
- W3121694920 hasConcept C109913693 @default.
- W3121694920 hasConcept C121332964 @default.
- W3121694920 hasConcept C126285488 @default.
- W3121694920 hasConcept C127598652 @default.
- W3121694920 hasConcept C136764020 @default.
- W3121694920 hasConcept C139719470 @default.
- W3121694920 hasConcept C144024400 @default.
- W3121694920 hasConcept C149923435 @default.
- W3121694920 hasConcept C162324750 @default.
- W3121694920 hasConcept C178131030 @default.
- W3121694920 hasConcept C185782297 @default.
- W3121694920 hasConcept C188466206 @default.
- W3121694920 hasConcept C200941418 @default.
- W3121694920 hasConcept C2777382242 @default.
- W3121694920 hasConcept C2908647359 @default.
- W3121694920 hasConcept C33332235 @default.
- W3121694920 hasConcept C41008148 @default.
- W3121694920 hasConcept C556758197 @default.
- W3121694920 hasConcept C8112001 @default.
- W3121694920 hasConceptScore W3121694920C109913693 @default.
- W3121694920 hasConceptScore W3121694920C121332964 @default.
- W3121694920 hasConceptScore W3121694920C126285488 @default.
- W3121694920 hasConceptScore W3121694920C127598652 @default.
- W3121694920 hasConceptScore W3121694920C136764020 @default.
- W3121694920 hasConceptScore W3121694920C139719470 @default.
- W3121694920 hasConceptScore W3121694920C144024400 @default.
- W3121694920 hasConceptScore W3121694920C149923435 @default.
- W3121694920 hasConceptScore W3121694920C162324750 @default.
- W3121694920 hasConceptScore W3121694920C178131030 @default.
- W3121694920 hasConceptScore W3121694920C185782297 @default.
- W3121694920 hasConceptScore W3121694920C188466206 @default.
- W3121694920 hasConceptScore W3121694920C200941418 @default.
- W3121694920 hasConceptScore W3121694920C2777382242 @default.
- W3121694920 hasConceptScore W3121694920C2908647359 @default.
- W3121694920 hasConceptScore W3121694920C33332235 @default.
- W3121694920 hasConceptScore W3121694920C41008148 @default.
- W3121694920 hasConceptScore W3121694920C556758197 @default.
- W3121694920 hasConceptScore W3121694920C8112001 @default.
- W3121694920 hasLocation W31216949201 @default.
- W3121694920 hasOpenAccess W3121694920 @default.
- W3121694920 hasPrimaryLocation W31216949201 @default.
- W3121694920 hasRelatedWork W1488674148 @default.
- W3121694920 hasRelatedWork W1497183196 @default.
- W3121694920 hasRelatedWork W1511242607 @default.
- W3121694920 hasRelatedWork W1563044733 @default.
- W3121694920 hasRelatedWork W1698719345 @default.
- W3121694920 hasRelatedWork W2083672867 @default.
- W3121694920 hasRelatedWork W2123029866 @default.
- W3121694920 hasRelatedWork W2150691014 @default.
- W3121694920 hasRelatedWork W2261063756 @default.
- W3121694920 hasRelatedWork W2262018599 @default.
- W3121694920 hasRelatedWork W2262131901 @default.
- W3121694920 hasRelatedWork W2262284923 @default.
- W3121694920 hasRelatedWork W2268500892 @default.
- W3121694920 hasRelatedWork W2781320877 @default.
- W3121694920 hasRelatedWork W2884117713 @default.
- W3121694920 hasRelatedWork W3122876799 @default.
- W3121694920 hasRelatedWork W3124052183 @default.
- W3121694920 hasRelatedWork W3125451838 @default.
- W3121694920 hasRelatedWork W3125830064 @default.
- W3121694920 hasRelatedWork W3171852257 @default.
- W3121694920 hasVolume "25" @default.
- W3121694920 isParatext "false" @default.
- W3121694920 isRetracted "false" @default.
- W3121694920 magId "3121694920" @default.
- W3121694920 workType "article" @default.