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La Política Monetaria En Japón: Lecciones A Extraer En La Comparación Con La De Los Eeuu

Author

Listed:
  • Alicia García Herrero
  • César Martín Machuca

Abstract

La experiencia de Japón muestra que la deflación es un fenómeno que requiere unas circunstancias especialmente negativas, en las que no parece encontrarse actualmente la economía norteamericana. En cualquier caso, el estudio del proceso de deflación en Japón puede ser útil para otros países. La primera lección a extraer es que la deflación tiene costes muy elevados y es difícil de anticipar. Por este motivo, es importante que las autoridades monetarias reaccionen rápida y decididamente, para evitar tipos de interés nominales nulos, ya que se reduce sustancialmente la efectividad de la política monetaria cuando se llega a ese límite.

Suggested Citation

  • Alicia García Herrero & César Martín Machuca, 2008. "La Política Monetaria En Japón: Lecciones A Extraer En La Comparación Con La De Los Eeuu," Observatorio Iberoamericano de la Economía y la Sociedad del Japón, Servicios Académicos Intercontinentales SL, issue 1, January.
    • Handle: RePEc:erv:obsjap:y:2008:i:1:1
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    Keywords

    Japón; EEUU; política monetaria; deflación;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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