degree of uncertainty associated with potential output in an environment of prolonged stagnation and deflation. Consequently … declines in Japanese inflation expectations. Policies undertaken by the Bank of Japan during this period did little to …

This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the … parallels. It is found that the poor reputation of the Bank of Japan (BoJ) is, at times, underserved. To be sure, there were …

This paper examines Japan's experience in the first half of the 1990s to shed some light on several issues that arise … deflation? How quickly should monetary policy respond to sharp declines in inflation? Are there factors that inhibit the … deflationary episode? We conclude that Japan's sustained deflationary slump was very much unanticipated by Japanese policymakers …

degree of uncertainty associated with potential output in an environment of prolonged stagnation and deflation. Consequently … declines in Japanese inflation expectations. Policies undertaken by the Bank of Japan during this period did little to …

, the word deflation has become almost synonymous with Japan and its economic problems. In this paper, the development of … this as something possibly benign, the conventional fear of deflation on the part of the Bank of Japan came to dominate its …Deflation counts among the worst things that could happen to an economy, the conventional wisdom tells us. But are …

This paper investigates how monetary policy can help to avoid the liquidity trap by studying the experience of Japan …. First, I analyze how the Bank of Japan conducted interest rate policy over the 1990s as the economy entered a deflationary …

analysis indicates that Japan has made some progress towards overcoming deflation, but further measures are needed to raise …This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target … rate shock are needed to successfully account for the behavior of nominal and real variables in Japan since late 2012. Our …