Monetary Policy in Japan : Internal or External Targets?  

Oleh:

Papell, David H.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: JAPAN AND THE WORLD ECONOMY vol. 6 no. 4 (1994), page 359-374.
Topik: MONETARY POLICY; monetary policy; internal; external; targets

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ47.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The comparative economic performance of the United States and Japan during the period of flexible exchange rates has been one of the most extensively studied topics in international economics. The conduct of monetary policy in Japan is studied to see if there are policy - , as opposed to purely structural, based reasons for the differences in economic performance. Our central results is that Japanese monetary policy since 1973 has served to accomodate inflation. We also present evidence, although not as compelling, that Japanese monetary policy has, in addition, stabilized the real exchange rate.

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