Quantitative Easing and the Labor Market in Japan
This paper studies the effectiveness of unconventional monetary policy on the labor market. By using the Japan's data, we estimate structural vector autoregressive models. Our empirical analysis demonstrates that while unconventional monetary policy boosts output and employment significantly, its effects on inflation and nominal wages are limited.
|Date of creation:||Feb 2016|
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- Hiroshi Ugai, 2006. "Effects of the Quantitative Easing Policy: A Survey of Empirical Analyses," Bank of Japan Working Paper Series 06-E-10, Bank of Japan. Full references (including those not matched with items on IDEAS)
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