Monetary Policy and the Lost Decade : Lessons from Japan

Lessons from Japan

Monetary Policy and the Lost Decade : Lessons from Japan
This paper investigates how monetary policy can help ward off a protracted deflationary slump when policy rates are near the zero bound by studying the experience of Japan during the "Lost Decade" which followed the asset-price bubble collapse in the early 1990s. Estimation results based on a structural model suggest that the Bank of Japan's... READ MORE...

Publication date: October 2009
ISBN 9781451873795
$18.00

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