The Economic Policies in Japan During the Last 30 Years: An Econometric Analysis
15 Pages Posted: 19 Nov 2007
Abstract
This paper analyses the Japanese economic growth since 1970 with particular attention for the last decade. After a brief discussion on the qualitative behaviour of macroeconomic variables, a survey of literature presents the ideas of various models. This is useful for the econometric analysis applied here, which consists in a smooth transition model, such as LSTAR. For the last decade a deeper analysis is carried out with a VAR model to test if lending view is necessary in explaining the business cycle. These models suggest that both fiscal and monetary policies were not very efficient. Total lending also accelerated the crisis.
Keywords: Japan, transition models
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment
By Ben S. Bernanke, Vincent R. Reinhart, ...
-
The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap
-
Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates
-
Real Implications of the Zero Bound on Nominal Interest Rates
-
By Jess Benhabib, Stephanie Schmitt-grohé, ...
-
By Jess Benhabib, Stephanie Schmitt-grohé, ...
-
Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others
-
Monetary Policy When the Nominal Short-Term Interest Rate is Zero
By James A. Clouse, Dale W. Henderson, ...