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Policy regime change against chronic deflation? Policy option under a long-term liquidity trap

Fujiwara, Ippei; Nakazono, Yoshiyuki; Ueda, Kozo

Description

The policy package known as Abenomics appears to have influenced the Japanese economy drastically, in particular, in the financial markets. In this paper, focusing on the aggressive monetary easing of Abenomics, the first arrow, we evaluate its role in guiding public perceptions on monetary policy stance through the management of expectations. In order to end chronic deflation, such as that which Japan has been suffering over the last two decades, policy regime change must be perceived by...[Show more]

CollectionsANU Research Publications
Date published: 2015
Type: Journal article
URI: http://hdl.handle.net/1885/98612
Source: Journal of the Japanese and International Economies
DOI: 10.1016/j.jjie.2015.05.005

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