monetary policy had a significant impact on Japan’s household behavior via the interest rate channel and the redistribution … households, focusing on the dramatic change of the household savings rate since 1998, from high to low savings. The literature … channel but not the labor income channel. There is also evidence that rising wealth boosts savings …

between China and the United States from both an asset-market and a labor-market perspective, and compare this to Japan …

Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan … policy after the shift of Japan from a fixed to a floating exchange rate regime. The econometric estimations allow for regime … soften the appreciation pressure by interest rate cuts have led Japan into the liquidity trap. …