We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy … rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese … that, with minor adjustments, the same specification provides a useful framework for understanding monetary policy in Japan …

and affects the overall effectiveness of forward guidance. We find that the central banks of the U.S., the U.K., Germany …, and other major advanced economies have similar levels of credibility (albeit far from full credibility); however, Japan …

rate and the German economy. The results indicate that such effects are large. If Germany keeps its money growth unchanged …

instrument and target variables. The time spans examined are 1962-1998 for the U.S. and U.K., and 1972-1998 for Japan. In …

liberalization of restrictions on capital mobility in Japan since the late 1970s on market efficiency …

Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and …. The most striking contrast in the outcomes of policy is between Japan and Germany in the second oil shock. Both their … Bundesbank and the Bank of Japan each focus on one money target, described by the Bundesbank as a target, and by the Bank of …