Schnabl, Gunther (contributor); Danne, Christian (contributor) - 2005
This paper studies the role of the yen/dollar exchange rate in the Bank of Japan’s monetary policy reaction function … rolling coefficients from January 1974 to March 1999. The results show a temporary impact of the exchange rate on monetary … policy around 1978/79 and a persistently increasing impact of the yen/dollar exchange rate after 1986. The ris ing importance …