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Economic Quarterly

Winter 1999

Japanese Monetary Policy: A Quantity Theory Perspective

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A deflationary monetary policy is responsible for the prolonged economic stagnation in Japan in the decade of the nineties. Monetary policy in the recent period contrasts with the nominal output targeting of the prior period that produced stability in both the price level and real growth.

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Lisa Davis (804) 697-8179

Economic Quarterly

Japanese Monetary Policy: A Quantity Theory Perspective

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