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New Keynesian dynamics in a low interest rate environment

Braun, R. Anton; Körber, Lena Mareen - 2011

Recent research has found that the dynamic properties of the New Keynesian model can be very different when the nominal interest rate is zero. Improvements in technology and reductions in the labor tax rate lower economic activity, and the size of the government purchase output multiplier can be...

Persistent link: https://www.econbiz.de/10010292223

Foreign exchange market interventions as monetary policy

Post, Erik - 2006

This paper sets up a simple model for interventions and interest rate setting assuming that the policy maker cares about deviations in inflation from a target level. Under a quadratic cost of interest rate adjustments and interventions the policy maker should use a combination of interest rate...

Persistent link: https://www.econbiz.de/10010321630

The Stabilizing Properties of Floating Exchange Rates: Some International Evidence

Bergvall, Anders - 2002

This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...

Persistent link: https://www.econbiz.de/10010321739

The implications of a graying Japan for government policy

Braun, R. Anton; Joines, Douglas H. - 2014

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...

Persistent link: https://www.econbiz.de/10011310188

Informal Values and Formal Policies: A study of Japanese Technology Policy and Significance for India

Bhaduri, Saradindu; Chandra, Janashruti - 2008

The main objective of this paper is to analyse some aspects of Japanese policy in the post World War-II period and understand how the various informal institutions (shared mental models) have influenced key dimensions of technology strategy with regard to the nature and trajectory of activities...

Persistent link: https://www.econbiz.de/10011807625

Japan's Foreign Direct Investment Experiences in India: Lessons Learnt from Firm Level Surveys

Choudhury, Srabani Roy - 2009

Ever since India decided to globalize, concentrated effort was made to attract Japanese participation through foreign direct investment. However, response from Japan has been rather subdued. This paper attempts to gain some insight into this reluctance of Japanese investors by studying the...

Persistent link: https://www.econbiz.de/10011807649

Monetary policy and the dangers of deflation: Lessons from Japan

Leigh, Daniel - 2004

. First, I analyze how the Bank of Japan conducted interest rate policy over the 1990s as the economy entered a deflationary … provided little improvement in economic performance. The economy also still enters the trap under a nonlinear policy rule that … commits the central bank to keeping interest rates at zero even after the economy begins to recover. However, I find that a …

Persistent link: https://www.econbiz.de/10010293436

Niedrigzinspolitik und Sparkultur in Japan: Implikationen für die Wirtschaftspolitik

Schnabl, Gunther; Sepp, Tim - 2021

Kreditvergabe. Es wird gezeigt, wie durch die anhaltend lockere Geldpolitik der Bank von Japan die Sparkultur in Japan grundlegend …

Persistent link: https://www.econbiz.de/10012608397

The impact of (un)conventional expansionary monetary policy on income inequality - Lessons from Japan

Israel, Karl-Friedrich; Latsos, Sophia - 2019

This paper analyzes the impact of conventional and unconventional monetary policy on income inequality in Japan, using hitherto unexplored data from the Japan Household Panel Survey. Empirical evidence shows that expansionary monetary policy in Japan has contributed to diminishing the gender pay...

Persistent link: https://www.econbiz.de/10012140466

The Japanese banks in the lasting low-, zero- and negative-interest rate environment

Schnabl, Gunther; Murai, Taiki - 2020

The bursting of the Japanese bubble economy in the early 1990s put the stage for a lasting lowzero-, and negative … monopoly law. With the capital allocation function of banks being undermined, the Japanese economy has become zombified …

Persistent link: https://www.econbiz.de/10012422760