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Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...
Persistent link: https://www.econbiz.de/10011604536
The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …
Persistent link: https://www.econbiz.de/10011604788
-time data flow and data revisions, also providing comparisons with the United States and Japan. We finally illustrate how such …
Persistent link: https://www.econbiz.de/10011605191
area, Japan, and U.K.) a compression in the long-term yield spread exerts a powerful effect on both output growth and …
Persistent link: https://www.econbiz.de/10011605304
-making function, i.e. the ECB and the central banks of the four G7 countries outside the euro area (the US, UK, Japan and Canada). The … paper first reviews the objectives of and arrangements for central bank/government cooperation in the US, UK, Japan and …
Persistent link: https://www.econbiz.de/10011606272
Persistent link: https://www.econbiz.de/10011282588
"Abenomics" refers to the economic policies advocated by Prime Minister Shinzo Abe who became prime minister of Japan … experienced Japan's rapid growth of retired people. In this paper we will explain these three aspects of Abenomics and the current … state of the Japanese economy, and examine what further remedies may be required if Japan is to recover from its long …
Persistent link: https://www.econbiz.de/10011310989
the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …
Persistent link: https://www.econbiz.de/10010261075
This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...
Persistent link: https://www.econbiz.de/10010261142
Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan … policy after the shift of Japan from a fixed to a floating exchange rate regime. The econometric estimations allow for regime … soften the appreciation pressure by interest rate cuts have led Japan into the liquidity trap. …
Persistent link: https://www.econbiz.de/10010264171