Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad - East Asian Bureau of Economic Research (EABER) - 2014
Japan has reached the limits of conventional macroeconomic policy. In order to overcome deflation and achieve … sustainable economic growth, the Bank of Japan (BOJ) recently set an inflation target of 2% and implemented an aggressive monetary … significantly in Japan with lower interest rates. Private investment displays this unconventional behavior because of uncertainty …