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"Financial crisis" is sometimes regarded as synonymous with "economic crisis", but this is an oversimplification and risks missing the feedback loops between the financial and real economies. In this paper, the role of money is revisited in the context of distinguishing the real economy from the...
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trade dispute. In the early 1990s, Japan faced sluggish economic growth and low inflation, as well as severe structural … operational independence and the lessons learnt from Japan's bubble experience, meanwhile, the Bank of Japan (BOJ) was granted … independence under the new 1997 Bank of Japan Act. Japan's economic problems starting from the 1980s also coincided with the period …
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Several empirical studies have suggested that the Bundesbank has pursued inflation targets rather than monetary targets. These studies have been criticized because they do not adequately measure the deviation from target and because they use some short term interest rate as a measure of the...
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too-low inflation. The experience of the Bank of Japan's encounter with the zero lower bound suggests important benefits … Geldpolitik auch beim Einsatz unkonventioneller Maßnahmen erfolgreich ist? Athanasios Orphanides analysiert die Maßnahmen der Bank … of Japan (BoJ) seit den späten 1990er Jahren und zeigt auf, worauf bei der Formulierung geachtet werden sollte. …
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