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Persistent link: https://www.econbiz.de/10014632810
Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via negative interest rates) or to survey and potentially...
Persistent link: https://www.econbiz.de/10011548098
This paper assesses the effects of the most recent monetary policy behavior of the Bank of Japan (BOJ) (in particular, zero interest rate policy and negative interest rate policy) and Japanese tax policy on income inequality in this country during the period of 2002Q1 to 2017Q3. The vector error...
Persistent link: https://www.econbiz.de/10011944221
of 2%. Although the main objective of the BOJ's quantitative easing (QE) and QQE policy is inflation targeting, this …
Persistent link: https://www.econbiz.de/10011944275
This paper assesses the effects of the most recent monetary policy behavior of the Bank of Japan (BOJ) (in particular, zero interest rate policy and negative interest rate policy) and Japanese tax policy on income inequality in this country during the period of 2002Q1 to 2017Q3. The vector error...
Persistent link: https://www.econbiz.de/10011843914
%. Although the main objective of the BOJ's quantitative easing (QE) and QQE policy is inflation targeting, this paper aims to …
Persistent link: https://www.econbiz.de/10011931285
Housing markets have played a prominent role in macroeconomic developments over recent years. For a great part of the 2000s, buoyant housing markets have contributed to sustained economic activity in most OECD countries. But many markets overheated and the collapse of the US subprime mortgage...
Persistent link: https://www.econbiz.de/10008480480
economy. Romer and Romer (2000) found that the Fed reveals information about inflation when it tightens monetary policy. Their … exclude the Fed's revelation of its asymmetric information about future inflation. …
Persistent link: https://www.econbiz.de/10010293721
-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice. …
Persistent link: https://www.econbiz.de/10010299140
inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …
Persistent link: https://www.econbiz.de/10010299143