Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan … provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary … policy after the shift of Japan from a fixed to a floating exchange rate regime. The econometric estimations allow for regime …

techniques, mainly vector autoregressions, focusing on Japan.While we find that basic relationships between the variables appear …

incorporate China into an existing model for the G-3 economies (i.e., the United States, the euro area, and Japan), paying … particular attention to modelling the exchange rate and monetary policy in China. Their findings suggest that the Chinese economy … real exchange rate more persistent. In addition, the authors' model underscores the importance of spillovers from China to …

result of an accommodative monetary policy. If China is not to share the same fate as Japan, it needs to learn the following … the aftereffects. A bubble appears to be forming in China, where property and other asset prices have risen sharply as a … lessons from Japan’s experience. First, in view of the risk that asset price fluctuations can destabilize the financial system …

channel is also found to be high in Japan and Hong Kong. In China, where interest rates have not been an important monetary …We examine the role of the exchange and interest rate channels during recent deflation episodes in Japan, Hong Kong and … China. We estimate open-economy structural vector autoregressive (SVAR) models for the three economies with different …