Mikihiro Matsuoka on Japan Inflation, BoJ Outlook and Debt Problems
Macro Hive Conversations With Bilal Hafeez
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Do You Think the Central Bank Can Influence Wages?
The labor share of GDP has risen to more than 50 percent, much higher than what you see in the United States. Some very large companies can afford to do so because of their large exposure to overseas economies. But for small and very small companies, where they don't have any overseas exposure, they can't afford to make higher wages to increase. In a more or less sense, it may be possible, but not necessarily the right way of interacting with businesses.
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