understanding of and expand research on this topic. Given the importance of the People’s Republic of China, Japan, and the United …

of policy have recently been of greater importance: changes in the supply of bank reserves, changes in the assets … allow a role for the central bank’s balance sheet in equilibrium determination and then consider the connections between … the strict sense and targeted asset purchases by a central bank, arguing that, according to our model, while the former is …

regionalist projects in Asia throughout the 1990s. As they demonstrate, Asian countries, especially Japan, have held a strong …