TY - JOUR AU - Kaiser, Cornelia PY - 2004/03/01 Y2 - 2024/03/29 TI - Deflation und Arbeitsmarkt in Japan JF - PROKLA. Zeitschrift für kritische Sozialwissenschaft JA - PROKLA VL - 34 IS - 134 SE - Artikel des Heftschwerpunkts DO - 10.32387/prokla.v34i134.642 UR - https://prokla.de/index.php/PROKLA/article/view/642 SP - 85-104 AB - <p>Since the mid 1990s, Japan suffers from a deflationary constellation. The deflation was triggered off by the crash of the stock market in Japan at the end 1980s, and the following credit crunch as banks in Japan stopped to issue credits. The final and most important factor for explaining the deflation is the collapse of the nominal wage anchor. Wages in Japan rose extremely below the increases of productivity. The resulting decrease in unit-labour costs stimulated deflation. Japan also shows how weak monetary policy becomes in a situation of deflation.</p> ER -