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Three arrows of "Abenomics" and the structural reform of Japan : inflation targeting policy of the Central Bank, fiscal consolidation, and growth strategy
Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad - 2014
"Abenomics" refers to the economic policies advocated by Prime Minister Shinzo Abe who became prime minister of Japan … December 2012. Abenomics has "three arrows": (i) aggressive monetary policy, (ii) fiscal consolidation, and (iii) growth … experienced Japan's rapid growth of retired people. In this paper we will explain these three aspects of Abenomics and the current …
Persistent link: https://www.econbiz.de/10010384376
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Three Arrows of 'Abenomics' and the Structural Reform of Japan : Inflation Targeting Policy of the Central Bank, Fiscal Consolidation, and Growth Strategy
Yoshino, Naoyuki - 2014
“Abenomics” refers to the economic policies advocated by Prime Minister Shinzo Abe who became prime minister of Japan … December 2012. Abenomics has “three arrows”: (i) aggressive monetary policy, (ii) fiscal consolidation, and (iii) growth … experienced Japan's rapid growth of retired people. In this paper we will explain these three aspects of Abenomics and the current …
Persistent link: https://www.econbiz.de/10013049683
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Three Arrows of “Abenomics†and the Structural Reform of Japan : Inflation Targeting Policy of the Central Bank, Fiscal Consolidation, and Growth Strategy
Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad - East Asian Bureau of Economic Research (EABER) - 2014
in December 2012. Abenomics has “three arrows†: (i) aggressive monetary policy, (ii) fiscal consolidation, and (iii … experienced Japan’s rapid growth of retired people. In this paper we will explain these three aspects of Abenomics and the …
Persistent link: https://www.econbiz.de/10011134366
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Three Arrows of “Abenomics†and the Structural Reform of Japan : Inflation Targeting Policy of the Central Bank, Fiscal Consolidation, and Growth Strategy
Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad - East Asian Bureau of Economic Research (EABER) - 2014
in December 2012. Abenomics has “three arrows†: (i) aggressive monetary policy, (ii) fiscal consolidation, and (iii … experienced Japan’s rapid growth of retired people. In this paper we will explain these three aspects of Abenomics and the …
Persistent link: https://www.econbiz.de/10011134392
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A Model-Based Fiscal Taylor Rule and a Toolkit to Assess the Fiscal Stance
Fournier, Jean-Marc - 2020
This paper presents a model-based fiscal Taylor rule and a toolkit to assess the fiscal stance, defined as the change in the structural primary balance. This is built on the normative buffer-stock model of the government (Fournier, 2019) which includes key channels like hysteresis,...
Persistent link: https://www.econbiz.de/10012839319
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Unappropriated Dollars : The Fed's Ad Hoc Lending Facilities and the Rules That Govern Them
Menand, Lev - 2020
Persistent link: https://www.econbiz.de/10012833832
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Policy, Risk and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach
Vitek, Francis - 2017
This paper develops a structural macro econometric model of the world economy, disaggregated into forty national economies, to facilitate multilaterally consistent macrofinancial policy, risk and spillover analysis. This panel dynamic stochastic general equilibrium model features a range of...
Persistent link: https://www.econbiz.de/10012956470
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Strengthening the Monetary Policy Framework in Korea
Clinton, Kevin - 2019
Adoption of inflation targeting by the Bank of Korea (BOK) in 1998 contributed to low and stable inflation. However, after the global financial crisis (GFC) monetary policy faced more challenging conditions. Inflation slipped below the target range in 2012 and remains below it despite a cut in...
Persistent link: https://www.econbiz.de/10012868478
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Fiscal Implications of Interest Rate Normalization in the United States
Bi, Huixin - 2019
This paper studies the main channels through which interest rate normalization has fiscalimplications in the United States. While unexpected inflation reduces the real value ofgovernment liabilities, a rising policy rate increases government financing needs because ofhigher interest payments and...
Persistent link: https://www.econbiz.de/10012869280
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Household Debt, Consumption, and Monetary Policy in Australia
Loukoianova, Elena - 2019
This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher-wealth households tend to have higher debt, lower-income households may become more vulnerable to rising debt service over time. Then, the paper analyzes the impact of a monetary...
Persistent link: https://www.econbiz.de/10012869296