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From April 2013 until May 2016, Japan's monetary base rose from ¥155 trillion to ¥387 trillion as part of the Bank of … Japan's (BOJ) quantitative and qualitative easing (QQE) monetary policy for achieving a price stability target of 2 …%. Although the main objective of the BOJ's quantitative easing (QE) and QQE policy is inflation targeting, this paper aims to …
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In April 2013, the Bank of Japan (BOJ) introduced an inflation target of 2% with the aim of overcoming deflation and … reduce its 2% inflation target in the present low oil price era. Secondly, it argues that Japan cannot make a sustainable … recovery from its long-lasting recession and tackle its long-standing deflation problem by means of its current monetary policy …
Persistent link: https://www.econbiz.de/10011594245
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Japan has reached the limits of conventional macroeconomic policy. In order to overcome deflation and achieve … sustainable economic growth, the Bank of Japan (BOJ) recently set an inflation target of 2% and implemented an aggressive monetary … depreciated Japanese yen and this was one of the main causes of the rise in inflation. This paper shows that quantitative easing …
Persistent link: https://www.econbiz.de/10010425704
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Hong Kong, China's housing market witnessed dramatic appreciations recently, with the price index for private domestic …, we find that changes in housing price index reinforce price trends in the long term. Hong Kong, China's dollar … quantitative easing, and the gross domestic product of the People's Republic of China (PRC) are positively related to housing …
Persistent link: https://www.econbiz.de/10012007579
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This paper studies how population aging affects macroeconomic performance and the effectiveness of macroeconomic policies. By using a new Keynesian dynamic stochastic general equilibrium model with heterogeneous households, we find that the effectiveness of monetary policy diminishes as...
Persistent link: https://www.econbiz.de/10012137066
While oil price fluctuations in the past can be explained by pure supply factors, this book argues that it is monetary policy that plays a significant role in setting global oil prices. It is a key factor often neglected in much of the earlier literature on the determinants of asset prices,...
Persistent link: https://www.econbiz.de/10011378547