The Great Recession: Lessons for Macroeconomic Policy from Japan

185 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Abenomics: Preliminary Analysis and Outlook (2014, background): “Posen (1998) and Kuttner and Posen (2001) analyze Japanese fiscal policy in the 1990s.”
On Lower-Bound Traps: A Framework for the Analysis of Monetary Policy in the 'Age' of Central Banks (2006, unknown): “10 As shown in Kuttner and Posen (2001), with the exception of a brief respite in 1997 (in large part due to an increase in the consumption tax) inflation, as measured by the Japanese GDP deflator, was consistently negative between 1994 and 2001, but failed to exhibit a clear downward trend.”
Effects of the Quantitative Easing Policy: A Survey of Empirical Analyses (2007, methodology): “(2003), and Okina and Shiratsuka (2004). All these papers use the approach of decomposing yield curves derived from JGB yields or yen-swap interest rates to try and extract the effects of the commitment. Here, even when the yield curve declines, it is important to distinguish whether that resulted f”
Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy (2015, unknown): “And even though Kiley (2007), Laforte (2007), and others have found that empirical new-Keynesian inflation models of the sort used in FRB/US and in DSGE models do provide a reasonable approximation to the observed behavior of inflation over the past 20 years or so, policymakers might well worry…”