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Bear in mind that inflation usually runs below the rate of wage change, thanks to productivity growth. So we’re really heading into Japanese-style deflation territory. Smells like deflation - Paul Krugman Blog - NYTimes.com

Bear in mind that inflation usually runs below the rate of wage change, thanks to productivity growth. So we’re really heading into Japanese-style deflation territory.
Smells like deflation - Paul Krugman Blog - NYTimes.com

Tags: deflation   productivity growth   wages   economics  
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