Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Miyamoto, … - 2017
In April 2013, the Bank of Japan (BOJ) introduced an inflation target of 2% with the aim of overcoming deflation and … monetary policy. The last section reports our simulation results of tackling Japan's aging population by introducing a …-term government bonds mainly, a policy that flattened the yield curve of JGBs. On the one hand, banks reduced the numbers of …