MONETARY POLICY DURING JAPAN'S LOST DECADE

We develop a quantitative costly price adjustment model with capital formation for the Japanese economy. The model respects the zero interest rate bound and is calibrated to reproduce the nominal and real facts from the 1990s. We use the model to investigate the properties of alternative monetary po...

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Veröffentlicht in:	Japanese economic review (Oxford, England) England), 2006-06, Vol.57 (2), p.324-344
Hauptverfasser:	BRAUN, R. ANTON, WAKI, YUICHIRO
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital formation E30 E50 Economic development Economic growth History Interest rates Japan Macroeconomics Monetary policy Policy analysis Price models Recent economic history Recession Studies Taylor rule
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