Monetary Policy and the Lost Decade.
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 res...
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Full Text (via ProQuest) |
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| Format: | eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2009.
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| Series: | IMF working paper (Online)
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Table of Contents:
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. The Japanese Economy Since 1990; II. Empirical Analysis; A. Model Specification; B. Model Estimation; 1. Estimation Results; 2. Estimation Results: Implicit Inflation Target; 3. Estimation Results: Natural Rate of Interest; 4. Estimated Policy-Rate Target and Actual Policy Rate; 5. Autocorrelation Functions; III. Counterfactual Analysis; 6. Demand and Supply Shocks: 1990-2005; 7. Actual and Counterfactual Macroeconomic Dynamics:; 2. Actual and Counterfactual Inflation and Output Loss.
- 8. Actual and Counterfactual Macroeconomic Dynamics:9. Actual and Counterfactual Macroeconomic Dynamics:; 10. Actual and Counterfactual Macroeconomic Dynamics:; IV. Conclusion; Appendix; References; Footnotes.