accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve … Japan, Bank of England und Federal Reserve System). Im zweiten Teil stellen wir eine Theorie über die Rechenschaftspflicht … Geldpolitik und die Frage, wer die endgültige Verantwortung für die Geldpolitik trägt. Das Papier zeigt auf, dass die …

Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This … paper examines Japan’s liquidity trap in light of the structure and performance of the country’s economy since the onset of … understanding Japan’s liquidity trap but also for formulating and implementing policies that can overcome the liquidity trap and …

Both Japan and parts of the European Monetary Union have experienced boom and bust in stock and real estate markets … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … expansion. Econometric estimations show that in Japan regional redistribution of funds has ensured homogeneous living conditions …

policy stimulus, while a competitive valuation of currencies supports growth in Europe and Japan. In the emerging countries …