specifications of the New Keynesian model that produce unorthodox results in a liquidity trap may be misplaced. We show that a … prototypical New Keynesian model fit to Japanese data exhibits orthodox dynamics during Japan's episode with zero interest rates …. We then demonstrate that this specification is more consistent with outcomes in Japan than alternative specifications …

Japan is in the midst of a demographic transition that is both rapid and large by international standards. As recently … as 1990, Japan had the youngest population among the Group of 6 large, developed countries. However, the combined effects … of aging of the baby boomer generation and low fertility rates have produced very rapid aging. Japan now finds itself …

die Rückkehr zu symmetrischen Regeln in der Geld- und Finanzpolitik gefordert. …

Does fiscal policy have qualitatively different effects on the economy in a liquidity trap? We analyze a nonlinear …

Kreditvergabe. Es wird gezeigt, wie durch die anhaltend lockere Geldpolitik der Bank von Japan die Sparkultur in Japan grundlegend …Das Papier untersucht die Veränderung der Sparkultur in Japan während mehr als 30 Jahren Niedrig-, Null- und …