An Aggregate Demand - Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990
Kenneth D. West
University of Wisconsin - Madison - Department of Economics; National Bureau of Economic Research (NBER)
April 1994
NBER Working Paper No. w3823
Abstract:
An aggregate demand - aggregate supply framework is used to analyze the effects of Japanese monetary policy, 1973:1-1990:8. It is found that money supply shocks contribute relatively little to output variability over the sample as a whole. Nor do these shocks seem to be particularly marked during business cycle contractions. The effects of monetary policy on prices and output appear to be quite similar to those of a constant money growth rule.
Number of Pages in PDF File: 75
working papers series
Suggested Citation
West, Kenneth D., An Aggregate Demand - Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990 (April 1994). NBER Working Paper No. w3823. Available at SSRN: http://ssrn.com/abstract=473964
