Fujiwara, Ippei; Hara, Naoko; Hirakata, Naohisa; … - In: Monetary and Economic Studies 25 (2007) 2, pp. 89-128
Focusing on policymaking under uncertainty, we analyze the monetary policy of the Bank of Japan (BOJ) in the early 1990s, when the bubble economy collapsed. Conducting stochastic simulations with a large- scale macroeconomic model of the Japanese economy, we find that the BOJf s monetary policy...
