This paper considers whether 'liquidity trap' issues have important bearing on the desirability of inflation targeting … perspective, a quantitative open-economy model is developed and the likelihood of encountering a liquidity trap is explored for … several policy rules. Also, it is emphasized that, if the usual interest rate instrument is immobilized by a liquidity trap …

of Japan's rhetoric was not helpful in fighting deflation, and the interest rate hike in August 2000 amid deflation was a …

The paper aims at explaining why the Bank of Japan has not adopted inflation targeting, despite calls for such a policy …. Disclosed minutes of the Monetary Policy Meetings of the Bank of Japan, after March 1998, as well as Speeches by its members … give clues to changing reasons against inflation targeting. Inflation targeting was not adopted in Japan in the early years …

In the spring of 2013 the Bank of Japan introduced a state-of-the-art monetary policy which included among other things … I sketch a model meant to capture the challenge of reflation in Japan. As in recent literature I attempt to mute the …

countries with an alternative form of liquidity management against foreign shocks when traditional reserves are committed to …