Monetary Policy and the Lost Decade.

This paper investigates how monetary policy can help ward off a protracted deflationary slump when policy rates are near the zero bound by studying the experience of Japan during the ""Lost Decade"" which followed the asset-price bubble collapse in the early 1990s. Estimation res...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Leigh, Daniel
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Since 1989
Monetary policy > Japan > Econometric models.
Deflation (Finance) > Japan > Econometric models.
Anti-inflationary policies > Japan > Econometric models.
Politique monétaire > Japon > Modèles économétriques.
Déflation > Japon > Modèles économétriques.
Inflation > Politique gouvernementale > Japon > Modèles économétriques.
Anti-inflationary policies > Econometric models
Deflation (Finance) > Econometric models
Economic history
Economic policy
Monetary policy > Econometric models
Japan > Economic conditions > 1989-
Japan > Economic policy > 1989-
Japon > Conditions économiques > 1989-
Japon > Politique économique > 1989-
Japan
Acceso en línea:Texto completo
Descripción
Sumario:This paper investigates how monetary policy can help ward off a protracted deflationary slump when policy rates are near the zero bound by studying the experience of Japan during the ""Lost Decade"" which followed the asset-price bubble collapse in the early 1990s. Estimation results based on a structural model suggest that the Bank of Japan's interest-rate policy fits a conventional forward-looking reaction function with an inflation target of about 1 percent. The disappointing economic performance thus seems primarily due to a series of adverse economic shocks rather than an extraordinary po.
Descripción Física:1 online resource (50 pages)
ISBN:9781452782348
1452782342

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