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Japan's deflation, problems in the financial system and monetary policy

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Author Info
Naohiko Baba (Bank of Japan - Institute for Monetary, Economic Studies)
Shinichi Nishioka (Bank of Japan - Institute of Monetary, Economic Studies)
Nobuyuki Oda (Bank of Japan - Institute for Monetary, Economic Studies)
Masaaki Shirakawa (Bank of Japan - Institute of Monetary, Economic Studies)
Kazuo Ueda (University of Tokyo - Faculty of Economics)
Hiroshi Ugai (Bank of Japan - Institute of Monetary, Economic Studies)

Additional information is available for the following registered author(s):

Abstract

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop. The views expressed are those of the author(s) and not those of the BIS.

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Publisher Info
Paper provided by Bank for International Settlements in its series BIS Working Papers with number 188.

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Length: 71 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:bis:biswps:188

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Related research
Keywords: deflation; zero interest rate policy; quantitative monetary easing policy; commitment; negative interest rate; investor behavior; financial accelerator;

Other versions of this item:

Find related papers by JEL classification:
E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Determination of Interest Rates; Term Structure of Interest Rates
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
G12 - Financial Economics - - General Financial Markets - - - Asset Pricing

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Naohiko Baba & Motoharu Nakashima & Yosuke Shigemi & Kazuo Ueda, 2006. "The Bank of Japan's Monetary Policy and Bank Risk Premiums in the Money Market," International Journal of Central Banking, International Journal of Central Banking, vol. 2(1), March. [Downloadable!]
    Other versions:
  2. Kenneth Kuttner, 2006. "Can Central Banks Target Bond Prices?," NBER Working Papers 12454, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Mark M. Spiegel, 2006. "Did quantitative easing by the Bank of Japan "work"?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue Oct 20. [Downloadable!]
  4. Nobuyuki Oda & Kazuo Ueda, 2005. "The Effects of the Bank of Japan's Zero Interest Rate Commitment and Quantitative Monetary Easing on the Yield Curve: A Macro-Finance Approach," CIRJE F-Series CIRJE-F-336, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
    Other versions:
  5. Fuchi, Hitoshi & Muto, Ichiro & Ugai, Hiroshi, 2005. "A Historical Evaluation of Financial Accelerator Effects in Japan's Economy," MPRA Paper 4648, University Library of Munich, Germany. [Downloadable!]
  6. Zammit, Robert, 2006. "Japanese quantitative easing: The effects and constraints of anti-deflationary monetary expansions," MPRA Paper 3361, University Library of Munich, Germany. [Downloadable!]
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