Japan's lost decade: Does money have a role?

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Journal of the Japanese and International Economies, 24(2), 178-195, 2010
To cite or link this document: http://hdl.handle.net/10230/11717
dc.contributor.author Canova, Fabio
dc.contributor.author Menz, Tobias
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2009-11-01
dc.identifier.citation Journal of the Japanese and International Economies, 24(2), 178-195, 2010
dc.identifier.uri http://hdl.handle.net/10230/11717
dc.description.abstract We study the contribution of the stock of money to the macroeconomic outcomes of the 1990s in Japan using a small scale structural model. Likelihood-based estimates of the parameters are provided and time stabilities of the structural relationships analyzed. Real balances are statistically important for output and inflation fluctuations and their role has changed over time. Models which give money no role give a distorted representation of the sources of cyclical fluctuations. The severe stagnation and the long deflation are driven by different causes.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1240
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Japan's lost decade: Does money have a role?
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2016-06-04T02:51:11Z
dc.subject.keyword Macroeconomics and International Economics
dc.subject.keyword money
dc.subject.keyword japan’s lost decade
dc.subject.keyword structural model
dc.subject.keyword deflation.
dc.rights.accessRights info:eu-repo/semantics/openAccess

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