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.
Our Research Focus: Inflation and Monetary Policy
Amanda L. Kramer
To receive a notification by email when Economic Quarterly is posted online or to order single copies of past issues, click on the links below (published online only since 2012).