Graph of the week: Japan's Phillips curve looks like Japan
A bit of humor today in the graph of the week section. A friend of mine living in Canada has sent me this short "paper" entitled: "Japan's Phillips Curve Looks Like Japan", by Gregor Smith from Queen's Economic Department.
It turns out that it really does look like Japan:
How funny is that? To be fair he had to reverse the unemployment rate to get the mirror image of the initial result (which was a standard downward sloping Phillips curve - in the shape of Japan of course).
Here's a map of Japan (included in the paper) to verify the comparison:
Here's a map of Japan (included in the paper) to verify the comparison:
The sign in the X axys should be positive, still, funny observation
ReplyDeleteI know, it is in the original graph, but I guess the author wanted to have some fun with it
DeleteAt the rate the united states abd western europe are going. It sure seems to be shaping up a lot like japans economy. They have had almost twentyfive years of economic stagnation.
ReplyDelete