trade dispute. In the early 1990s, Japan faced sluggish economic growth and low inflation, as well as severe structural …Low inflation hit the Japanese economy shortly after the burst of the bubble in stocks and real estate in 1991 and has … operational independence and the lessons learnt from Japan's bubble experience, meanwhile, the Bank of Japan (BOJ) was granted …

free float, an independent monetary authority and inflation targeting yields an outcome that mimics the price stabilization … authority and inflation targeting, would be Pareto-improving when compared to harder regimes. …