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trade dispute. In the early 1990s, Japan faced sluggish economic growth and low inflation, as well as severe structural … operational independence and the lessons learnt from Japan's bubble experience, meanwhile, the Bank of Japan (BOJ) was granted … independence under the new 1997 Bank of Japan Act. Japan's economic problems starting from the 1980s also coincided with the period …
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This paper examines the effectiveness of several of the Fed's unconventional monetary policies from 2007 to 2010 by comparing interest rate spreads with forecast estimates based on either the pure expectations hypothesis or the preferred habitat theory. We find that the effectiveness of these...
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pressure. Since February 1999, the Bank of Japan (BoJ) has conducted several unconventional monetary policy programs …
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