Japan: Evaluating Aggressive Monetary Easing and Economic Performance
dc.contributor.author | Ramana | |
dc.date.accessioned | 2018-09-17T14:11:53Z | |
dc.date.available | 2018-09-17T14:11:53Z | |
dc.date.issued | 2018-06-20 | |
dc.identifier.other | CWPE1837 | |
dc.identifier.uri | https://www.repository.cam.ac.uk/handle/1810/280299 | |
dc.description.abstract | Japan has had an outsized influence on global monetary policy. Avoiding becoming Japan has been a powerful force for Quantitative Easing. This paper argues, that despite popular perceptions, Japanese economic performance has not been a calamity; living standards have risen consistently over time and a full-fledged deflationary spiral avoided. These outcomes render making judgements about the Bank of Japan’s (BOJ) track record challenging despite the failure to meet the inflation target. The BOJ’s conceptual evolution on monetary policy and the various measures adopted over time are analysed for a fuller assessment of the effectiveness of monetary policy in Japan. The paper discusses the nascent, but increasingly influential academic research on the limitations of QE and its collateral effects on the economy, and what that portends for future BOJ policy. | |
dc.publisher | Faculty of Economics | |
dc.relation.ispartofseries | Cambridge Working Papers in Economics | |
dc.rights | All Rights Reserved | en |
dc.rights.uri | https://www.rioxx.net/licenses/all-rights-reserved/ | en |
dc.subject | Quantitative Easing | |
dc.subject | Bank of Japan | |
dc.subject | deflation | |
dc.title | Japan: Evaluating Aggressive Monetary Easing and Economic Performance | |
dc.type | Working Paper | |
dc.identifier.doi | 10.17863/CAM.27668 |
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Cambridge Working Papers in Economics (CWPE)
A new series of papers from the Faculty of Economics and the Department of Applied Economics, which supersedes the DAE Working Paper series