Wednesday, October 31, 2007

Japan Roundup

1. Measurement: Yr doin' it wrong: In an interesting new NBER working paper (ungated version here) Broda & Weinstein argue that Japan is systematically undermeasuring its deflation rate and thus also its rate of consumption growth.

2. Those who don't like history can always try to re-write it: The Japanese government thinks textbooks are too hard on Japan vis a vis World War II. Specifically the Government is ordering textbook producers to eliminate, among other things, the accounts of forced civilian suicides that the books currently contain.

3. Brother can you spare a riceball? If you are a hobo thinking of relocating internationally, I'd think twice about choosing Japan.

4. Japanese love Hummers!! um, to be more specific, they love the original H1 Hummer from General Motors.

3 comments:

BR said...

On rice balls... Sounds made up or like a kamikaze publicity stunt. You have to be pretty darn worthless if you can earn one dollar. He had enough money for a diary and a pen[cil]!

Can anyone explain the idea of "widening income gaps"? It suggests a bi-modal income distribution which isn't even close to reality in the US. My observation is that income distributions are continuous, skewed right, and [go figure] positive.

Anonymous said...

Is Japan on the Gold Standard? How else can you account for their deflation?

Angus said...

anon: lol, or maybe a currency board, eh? Let's ask Alan!!