In this post of damnification, PK is worried about deflation in the US, focused on employment cost index. This reminds me that my teacher KI observed that in Japan nominal wage did decline in those days (90s). Leaving aside the real/nominal wage issues in the labor market, the impact of declining employment cost might affect more deflation expectation.
- Glen Weyl: Price Theory and Market Design Fall 2013(2015.12.19)
- Inputs in the Production of Early Childhood Human Capital: Evidence from Head Start(2014.11.03)
- Great Teachers: How to Raise Student Learning in Latin America and the Caribbean(2014.09.17)
- On Piketty(2014.05.29)