-system, or Japan. Structural estimates of banks' reserve demand, at a frequency corresponding to the required reserve maintenance … period, show no interest elasticity for the U.S. or the Euro-system (but some elasticity for Japan). The chapter next …

of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between … 2001 and 2006 is presented. During this earlier period the Bank of Japan was able to expand the monetary base very quickly …

This paper investigates whether the Bank of Japan has practiced a monetarist rule since 1975. The Bank of Japan (BOJ …

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 …

, and other major advanced economies have similar levels of credibility (albeit far from full credibility); however, Japan …

In 1991, the Japanese economy ended a historic expansion and entered a period of stagnation that has yet to abate. Nine … in the US post-bubble period. But the US has worse fiscal and current account imbalances than Japan had at the same stage …