Ed Dolan's Econ Blog

Roubini Topic Archive: Japan

  • Prices are Falling in the Eurozone, but is it “Real” Deflation?

    The Eurozone has been on the brink of deflation for months. The latest data show that for the first time, consumer prices for the currency area as a whole (and for 12 of its 19 member countries) were actually lower in December than a year earlier. But is it “real” deflation? In a pair of […]

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  • Five Reasons Not to Fear Deflation: Which Ones Make Sense?

    In a post earlier this week, I explained why a majority of economists fear deflation. They argue that deflation disrupts the operation of financial markets and labor markets in a way that risks touching off a downward spiral. At the same time, they say, deflation weakens the power of monetary policy to reverse the downward […]

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  • Why Should Europe (or Anyone Else) Fear Deflation?

    This is the first of a two-part series on deflation, which continues with “Five Reasons Not to Fear Inflation: Which Ones Make Sense?” This additional post updates the euro deflation story through December 2014 and discusses the impact of oil prices on deflation in Europe. Europe is fearful as it teeters on the brink of […]

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  • Who are the Biggest Trans-Pacific Currency Manipulators? How Great is the Threat?

    Recently a bi-partisan group of 60 U.S. Senators made headlines with a letter to Treasury Secretary Jack Lew. The letter urged him to add a clause to the proposed Trans-Pacific Partnership (TPP) trade agreement prohibiting currency manipulation. The Senators cited a Peterson Institute study that claimed currency manipulation had cost the United States 5 million […]

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  • Growth and Quality of Life: What Can we Learn from Japan?

    There is a growing concern that economic growth, as we know it, is coming to an end. Economists, who tend to view growth as good, are uneasy with that idea. Many environmentalists, who are more prone to focus on the downside of growth, view a steady-state economy more positively. Richard Heinberg, author of the book […]

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