Abstract
The comparative economic performance of the United States and Japan during the period of flexible exchange rates has been one of the most extensively studied topics in international economics. The conduct of monetary policy in Japan is studied to see if there are policy-, as opposed to purely structural, based reasons for the differences in economic performance. Our central results is that Japanese monetary policy since 1973 has served to accomodate inflation. We also present evidence, although not as compelling, that Japanese monetary policy has, in addition, stabilized the real exchange rate.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
