IDEAS home Printed from https://ideas.repec.org/a/tpr/asiaec/v6y2007i3p132-143.html
   My bibliography  Save this article

The New Policy Framework of the Bank of Japan: Central Banking in an Uncertain World

Author

Listed:
  • Kiyohiko G. Nishimura

    (Bank of Japan, 2-1-1 Nihonbashi-Hongokucho Chuo-Ku, Tokyo 103-8660 Japan)

Abstract

When the Bank of Japan ended its Quantitative Easing Policy on 9 March 2006, it also issued a document entitled "The Introduction of a New Framework for the Conduct of Monetary Policy" to explain its policy stance. "Fundamental uncertainty" (the existence of "unknown unknowns") is the most important consideration in this New Policy Framework. The Framework has two basic principles: a Two-Perspective Strategy and the collective wisdom of "agreeing to disagree." (c) 2007 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Kiyohiko G. Nishimura, 2007. "The New Policy Framework of the Bank of Japan: Central Banking in an Uncertain World," Asian Economic Papers, MIT Press, vol. 6(3), pages 132-143, Fall.
    • Handle: RePEc:tpr:asiaec:v:6:y:2007:i:3:p:132-143
    as

    Download full text from publisher

    File URL: http://www.mitpressjournals.org/doi/pdfplus/10.1162/asep.2007.6.3.132
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Markus Heckel & Kiyohiko G. Nishimura, 2022. "Unconventional Monetary Policy through Open Market Operations: A Principal Component Analysis," Asian Economic Papers, MIT Press, vol. 21(1), pages 1-28, Winter/Sp.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tpr:asiaec:v:6:y:2007:i:3:p:132-143. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kelly McDougall (email available below). General contact details of provider: https://direct.mit.edu/journals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.