Krugman on the Liquidity Trap : Why Inflation Won't Bring Recovery in Japan

Paul Krugman has argued that Japan is in a liquidity trap and that it can recover only if the central bank there follows a policy of 'credible inflation.' This paper argues that Krugman's proposal, which is similar to what Fisher proposed during the Depression, is based on a different interpretation of the liquidity trap from that proposed by Keynes and as a result his policy recommendations can result in neither the elimination of the trap nor in Japan's economic recovery

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Year of publication:	2000
Authors:	Kregel, Jan A.
Publisher:	[S.l.] : SSRN
Subject:	Japan \| Inflation \| Geldpolitik \| Monetary policy \| Liquiditätspräferenz \| Liquidity preference \| Glaubwürdigkeit \| Credibility

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Extent:	1 Online-Ressource (8 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 2000 erstellt
Other identifiers:	10.2139/ssrn.219494 [DOI]
Classification:	E51 - Money Supply; Credit; Money Multipliers ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014162273