Showing 1 - 10 of 43
Japan suffered a very high inflation rate in 1973-74. The CPI inflation rate rose to near 30% in 1974, the highest rate … rapid yen appreciation produced political pressure on the Bank of Japan to continue easing. The Bank of Japan came out of … monetary policy should not be overruled or the high inflation would be repeated. By this logic, the Bank of Japan obtained /de …
Persistent link: https://www.econbiz.de/10012462925
of Japan's rhetoric was not helpful in fighting deflation, and the interest rate hike in August 2000 amid deflation was a …
Persistent link: https://www.econbiz.de/10012467811
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 …
Persistent link: https://www.econbiz.de/10012467871
This paper investigates whether the Bank of Japan has practiced a monetarist rule since 1975. The Bank of Japan (BOJ …
Persistent link: https://www.econbiz.de/10012476175
Persistent link: https://www.econbiz.de/10013481090
Aggregate shocks that move output and inflation in opposite directions create a tradeoff between output and inflation variability, forcing central bankers to make a choice. Differences in the degree of accommodation of shocks lead to disparate variability outcomes, revealing national central...
Persistent link: https://www.econbiz.de/10012471355
intervention by the Bank of Japan was rather limited at that point. The Bank of Japan, adopted the "high interest policy" in … October 1985. By narrowing the interest rate gap between Japan and the United States, the Bank of Japan successfully led to … in oil prices. After the third wave was over, the Bank of Japan started intervening the market in support of the dollar …
Persistent link: https://www.econbiz.de/10012477021
We examine whether the forex market quality, measured by the speed of price discovery and liquidity recovery after … increasing number of traders improves liquidity but slows down price discovery. Theoretically, the latter finding implies that …
Persistent link: https://www.econbiz.de/10012481993
Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication -- mostly empirical, and almost all of it written in this decade. We survey this...
Persistent link: https://www.econbiz.de/10012464715
We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys--one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...
Persistent link: https://www.econbiz.de/10012455945