Bayoumi, T., 1999, “Where Are We Going? The Output Gap and Potential Growth,” in T. Bayoumi, and C. Bayoumi, and Post-Bubble Blues: How Japan Responded to Asset Price Collapse.
Callen, T. and T. Nagaoka, 2001, “Structural Reforms, Information Technology, and Medium-Term Growth Prospects,” in the accompanying Selected Issues volume.
Morsink, J., R. Ramaswamy, M. Mühleisen, and T. Nagaoka, 2000, Japan: Economic and Policy Developments, IMF Staff Country Report No.00/143, November.
Shiratsuka, S., 1999, “Measurement Errors in Japanese Consumer Price Index,” IMES Discussion Paper, Institute for Monetary and Economic Studies, Bank of Japan, No.99–E–23.
Prepared by Tim Callen (ext. 38873).
See Bayoumi, 1999, for a detailed discussion on estimating potential growth and the output gap in Japan.
Measurement biases in the CPI are estimated to lead to an overstatement of inflation by around 1 percent (see Shiratsuka, 1999).
See Callen and McKibbin, 2001, for a discussion of the trade and financial links between Japan and Asia, and the implications of these links for the transmission of shocks within the region.
See Japan: Economic and Policy Developments, IMF Staff Country Report No. 00/143, November 2000.