A Post-Reflation Monetary Framework for Japan

Author/Editor: Stone, Mark R. ; Kramer, Charles Frederick
Publication Date: April 01, 2005
Summary: Modifications to Japan's monetary policy framework will be needed as positive inflation resumes because the current monetary regime and operations are tailored to ending deflation. The paper suggests that the monetary regime should move from an "anti-deflation" objective to an inflation objective, complemented by a shift of monetary operations from a quantitative operating target to an interest rate target. There are also questions about the timing of these shifts and the particulars of such arrangements, but decisive answers are elusive.
Subject(s): Monetary policy | Japan | Monetary operations | Deflation

Author's Keyword(s): Monetary policy | monetary operations | Japan | deflation
Publication Date: April 01, 2005
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA2005073 Pages: 28
US$15.00 (Academic Rate:
US$15.00 )
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