impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

ILO pub-WEP pub. Working paper on structural change and industrial policy trends from 1970-1980 in Japan - discusses … adjustment to petroleum price increases and inflation, competition, changing occupational structure and trade structure, role of …

This Selected Issues paper examines implications for long-term bond yields in case of Japan. The analysis finds that so …

Although the economic recovery in the UK has been disappointing, it is inappropriate to either assert that Japan's two … badly as Japan. Recall that the UK has, so far, avoided the deflation that held back the Japanese economy. One could …, instead, argue that Japan illustrates the pitfalls associated with insufficiently aggressive monetary policy. Hence, it is …

consider theoretical arguments and empirical evidence for each topic discussed. Topics covered include Japan's low inflation … execution of monetary and financial policies in Japan within a broad technical, political, and institutional context. Their … central banking; Japan's "bubble economy" of the 1980s; and the causes, magnitude, and regulatory responses to Japan's banking …

Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the … potential impact on inflation has been studied less. We use the IMF’s Global Integrated Fiscal and Monetary Model (GIMF) and …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …