Japanese Monetary Policy: A Quantity Theory Perspective

25 Pages Posted: 26 Nov 2012

See all articles by Robert L. Hetzel

Robert L. Hetzel

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 1999

Abstract

A deflationary monetary policy is responsible for the prolonged economic stagnation in Japan in the decade of the nineties. Monetary policy in the recent period contrasts with the nominal output targeting of the prior period that produced stability in both the price level and real growth.

Suggested Citation

Hetzel, Robert L., Japanese Monetary Policy: A Quantity Theory Perspective (1999). FRB Richmond Economic Quarterly, vol. 85, no. 1, Winter 1999, pp. 1-25, Available at SSRN: https://ssrn.com/abstract=2129906

Robert L. Hetzel (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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