IMF calls for policies to support wage increases in Japan
It wants Tokyo to use moral suasion, tax breaks and penalties to prod firms into granting bigger pay gains
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Washington
IN a sign of how worried it is about Japan's economy, the International Monetary Fund (IMF) is urging the country to resurrect a radical strategy once employed by former US presidents Nixon, Ford and Carter - only in reverse.
It's called an incomes policy - and it involves the kind of direct government intervention in the setting of wages that many economists now abhor.
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