Discretionary Monetary Policy Versus Rules : The Japanese Experience During 1986-91

The Japanese Experience During 1986-91

Discretionary Monetary Policy Versus Rules : The Japanese Experience During 1986-91
This paper compares the hypothetical performance of various monetary policy rules with that of the discretionary policies actually pursued in Japan over the 1986-91 period. The results suggest that simple rules based on targeting growth in either the money supply, nominal income, or prices would have failed to stabilize economic variables more... READ MORE...

Publication date: August 1992
ISBN 9781451848335
$15.00

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