We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more ...

During economic downturns an economy’s output of goods and services declines. When times are good, by contrast, that output—usually measured as GDP—increases (see “Gross Domestic Product: An Economy’s ...

TOKYO (Reuters) - Japan's output gap in the third quarter turned negative for the first time in almost two years, in a sign the Bank of Japan's 2 percent inflation target will become even more distant ...

TOKYO (Reuters) - Japan's output gap narrowed in the second quarter from a record in the previous quarter, but supply continued to outstrip demand by a large margin in a sign of persistent deflation.

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TOKYO, Jan 6 (Reuters) - Japan's economic output recovered to near its full capacity for the first time in nearly three years, data showed on Friday, a sign the world's third-largest economy could be ...