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Policy commitment and expectation formation : Japan's experience under zero interest rates

Okina, Kunio; Shiratsuka, Shigenori - In: The North American journal of economics and finance : a … 15 (2004) 1, pp. 75-100

Persistent link: https://www.econbiz.de/10001981466

Policy Duration Effect under Zero Interest Rates: An Application of Wavelet Analysis

Okina, Kunio; Shiratsuka, Shigenori - 2004

A major feature of recent monetary policy in Japan has been heavy reliance on the so-called policy duration effect. This policy employs a commitment to compensate for the central bank's inability to lower the interest rate below zero by altering the anticipated course of monetary policy actions....

Persistent link: https://www.econbiz.de/10010315896

Comments on "Price stability and Japanese monetary policy"

Fujiki, Hiroshi; Okina, Kunio; Shiratsuka, Shigenori - 2004

Persistent link: https://www.econbiz.de/10002117620

The policy duration effect under zero interest rates : an application of wavelet analysis

Okina, Kunio; Shiratsuka, Shigenori - In: Japan's great stagnation : financial and monetary …, (pp. 183-210). 2006

Persistent link: https://www.econbiz.de/10003356259

Policy duration effect under zero interest rates : an application of wavelet analysis

Okina, Kunio; Shiratsuka, Shigenori - 2004

A major feature of recent monetary policy in Japan has been heavy reliance on the so-called policy duration effect. This policy employs a commitment to compensate for the central bank s inability to lower the interest rate below zero by altering the anticipated course of monetary policy actions....

Persistent link: https://www.econbiz.de/10011402630