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Japan's nominal GDP has been squeezed by deflation.
ECONOMIST: The balance of economic power
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Washington politicians are pointing the U.S. economy straight into a liquidity trap and instead of a bright economic future, the U.S. is looking at years of high unemployment, weak GDP growth and the possibility of widespread deflation.
FORBES: Goodbye Recovery, Hello Recession
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According to the GDP deflator, a broad index of prices, deflation tightened its grip on the economy in the fourth quarter, with prices falling at an annual rate of 4.4% (see chart).
ECONOMIST: A renewed force in Asia
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Through 20 years of on-again, off-again deflation, they avoided a big loss in GDP and kept everyone working.
FORBES: Hey, Feds, Give Disaster A Chance To Avoid True Financial Apocalypse
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The indicators of the production of GDP are re-valued at constant prices with the double deflation method where the value added at constant prices is the difference between the value of output and the value of intermediate consumption at constant prices.
UNESCO: Belarus: Report: Part I: Descriptive Section
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Credit Suisse cites Hungary as one of the most vulnerable countries to deflation because its net foreign liabilities are 123% of GDP.
FORBES: Stocks That Look Swell For Deflationary Times
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GDP, companies had too much production capacity and prices were falling in a debilitating deflation.
ECONOMIST: It deserves, for Japan's sake, to be rewarded