growing gap between deposits above lending and has compressed interest margins as the traditional source of bank's income …

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …

Both Japan and parts of the European Monetary Union have experienced boom and bust in stock and real estate markets … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … expansion. Econometric estimations show that in Japan regional redistribution of funds has ensured homogeneous living conditions …

-Gordon-type central bank loss function that in both cases surplus liquidity limits monetary policy autonomy. In case of fixed exchange …

European Central Bank and the Bank of England have undermined these orders, thereby eroding productivity gains and growth …

constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan - at different points of time - self-fulfilling runs …

factors directly or indirectly influenced by the Bank of Japan: increased money holding of households and corporations …The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively …