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Crunch Time : Fiscal Crises and the Role of Monetary Policy
Greenlaw, David - 2013
Countries with high debt loads are vulnerable to an adverse feedback loop in which doubts by lenders lead to higher sovereign interest rates which in turn make the debt problems more severe. We analyze the recent experience of advanced economies using both econometric methods and case studies...
Persistent link: https://www.econbiz.de/10012459364
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Causes of the Korean Financial Crisis : Lessons for Policy
Hahm, Joon-Ho - 2000
This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers...
Persistent link: https://www.econbiz.de/10012471293
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Great Inflation and Central Bank Independence in Japan
Ito, Takatoshi - 2010
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
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Two Decades of Japanese Monetary Policy and the Deflation Problem
Ito, Takatoshi - 2004
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
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Inflation Targeting and Japan : Why has the Bank of Japan not Adopted Inflation Targeting?
Ito, Takatoshi - 2004
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
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Is the Bank of Japan a Closet Monetarist? Monetary Targeting in Japan, 1978-1988
Ito, Takatoshi - 1989
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
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Financial Policies and the Prevention of Financial Crises in Emerging Market Countries
Mishkin, Frederic S. - 2001
This paper outlines a set of financial policies that can help make financial crises less likely in emerging market countries. To justify these policies, the paper first explains what a financial crisis is, the factors that promote a financial crisis and the dynamics of a financial crisis. It...
Persistent link: https://www.econbiz.de/10012470642
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Central banking after the crisis
Mishkin, Frederic S. - 2013
Persistent link: https://www.econbiz.de/10010254128
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Monetary Policy Strategies for Latin America
Mishkin, Frederic S. - 2000
The paper examines possible monetary policy strategies for Latin America that may help lock-in the gains in the fight against inflation attained by the region during the 1990s. We start by calling for a refocus of the debate about the conduct of monetary policy away from thinking that it is...
Persistent link: https://www.econbiz.de/10012471153
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International Experiences with Different Monetary Policy Regimes
Mishkin, Frederic S. - 1999
This paper examines the international experiences with four basic types of monetary policy regimes: 1) exchange-rate targeting, 2) monetary targeting, 3) inflation targeting, and 4) monetary policy with an implicit but not an explicit nominal anchor. The basic theme that emerges from this...
Persistent link: https://www.econbiz.de/10012471842