Abenomics and Asset Prices: Is It Case of Self-Fulfilling Expectations?
AbstractAsset prices have responded in a surprising way to the announcement of a policy package in late 2012 by Shinzo Abe, then the President of the LDP.The package (henceforth, Abenomics) has placed a central focus on aggressive monetary easing. The yen has weakened by about 20% against the dollar since then. Japanâ€™s stock market has gone up by about 30%. I offer a tentative evaluation of Abenomics in the light of the experience with non-conventional monetary policy (NCM) by major central banks including the Bank of Japan (BOJ).
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Bibliographic InfoPaper provided by Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo in its series CARF F-Series with number CARF-F-310.
Length: 24 pages
Date of creation: Mar 2013
Date of revision:
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