2024-03-28T09:01:58Z
https://nagoya.repo.nii.ac.jp/oai
oai:nagoya.repo.nii.ac.jp:02001964
2023-01-17T06:35:26Z
659:853:854:1642555694046
The Role and Effect of Monetary Policy in Japan
DOI, Yasuhiro
BoJ
QE
Monetary Base
GDP
A central bank is asked with managing public liquidity to keep inflation low and stable and to stimulate an economy’s business cycle. In Japan, monetary policy has been implemented by the Bank of Japan (BoJ) with the aim of maintaining price stability. However, there have been disruptive effects due to the past implementation of monetary policy in response to shocks related to financial crises and bursting economic bubbles. In this paper, we introduce some economic thoughts and philosophies regarding monetary policy such as monetarist concepts to evaluate the effects of political implementations by the BoJ. We also summarize historical approaches and the BoJ’s monetary policy philosophy. Based on a report by the BoJ (2002), the effects of policy implementations from 1994 to 2019 are analyzed empirically to determine the relationship between the monetary base and real economic indicators.
departmental bulletin paper
名古屋大学大学院経済学研究科
Graduate School of Economics Nagoya University
2021-12
application/pdf
経済科学
3
69
15
20
The Economic Science
0022-9725
2434-5741
https://nagoya.repo.nii.ac.jp/record/2001964/files/ecos_69_3_15.pdf
eng