Trend inflation and monetary policy regimes in Japan

dc.contributor.authorOkimoto, Tatsuyoshi
dc.date.accessioned2019-10-02T23:44:03Z
dc.date.issued2018-12-21
dc.date.updated2019-04-21T08:25:40Z
dc.description.abstractThis paper examines the dynamics of trend inflation in Japan over the last three decades based on the smooth transition Phillips curve model. We find that there is a strong connection between the trend inflation and monetary policy regimes. The results also suggest that the introduction of the inflation targeting policy and quantitative and qualitative easing in the beginning of 2013 successfully escaped from the deflationary regime, but were not enough to achieve the 2% inflation target. Finally, our results indicate the significance of exchange rates in explaining the recent fluctuations of inflation and the importance of oil and stock prices in maintaining the positive trend inflation regime.en_AU
dc.format.mimetypeapplication/pdfen_AU
dc.identifier.issn0261-5606en_AU
dc.identifier.urihttp://hdl.handle.net/1885/173078
dc.language.isoen_AUen_AU
dc.publisherPergamon Pressen_AU
dc.rights© 2018 Elsevier Ltd.en_AU
dc.sourceJournal of International Money and Financeen_AU
dc.subjectPhillips curveen_AU
dc.subjectInflation targetingen_AU
dc.subjectQuantitative and qualitative easingen_AU
dc.subjectSmooth transition modelen_AU
dc.titleTrend inflation and monetary policy regimes in Japanen_AU
dc.typeJournal articleen_AU
local.bibliographicCitation.lastpage152en_AU
local.bibliographicCitation.startpage137en_AU
local.contributor.affiliationOkimoto, Tatsuyoshi, College of Asia and the Pacific, ANUen_AU
local.contributor.authoremailu5577820@anu.edu.auen_AU
local.contributor.authoruidOkimoto, Tatsuyoshi, u5577820en_AU
local.description.embargo2037-12-31
local.description.notesImported from ARIESen_AU
local.identifier.absfor140305 - Time-Series Analysisen_AU
local.identifier.absfor140212 - Macroeconomics (incl. Monetary and Fiscal Theory)en_AU
local.identifier.absseo910108 - Monetary Policyen_AU
local.identifier.ariespublicationu1072228xPUB11en_AU
local.identifier.citationvolume92en_AU
local.identifier.doi10.1016/j.jimonfin.2018.12.008en_AU
local.identifier.scopusID2-s2.0-85059138723
local.identifier.uidSubmittedByu1072228en_AU
local.type.statusPublished Versionen_AU

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