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An Aggregate Demand - Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990

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  • Kenneth D. West

Abstract

An aggregate demand - aggregate supply framework is used to analyze the effects of Japanese monetary policy, 1973:1-1990:8. It is found that money supply shocks contribute relatively little to output variability over the sample as a whole. Nor do these shocks seem to be particularly marked during business cycle contractions. The effects of monetary policy on prices and output appear to be quite similar to those of a constant money growth rule.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3823.

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Date of creation: Aug 1991
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Publication status: published as Japanese Monetary Policyedited by Kenneth J. Singleton University of Chicago Press; 1993, pp. 161-189
Handle: RePEc:nbr:nberwo:3823

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Cited by:
  1. Etsuro Shioji, 1997. "Identifying monetary policy shocks in Japan," Economics Working Papers 216, Department of Economics and Business, Universitat Pompeu Fabra.

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