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

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• dc.contributor.author Canova, Fabioca
• dc.contributor.author Menz, Tobiasca
• dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
• dc.date.accessioned 2017-07-26T10:50:05Z
• dc.date.available 2017-07-26T10:50:05Z
• dc.date.issued 2009-11-01
• dc.date.modified 2017-07-23T02:13:32Z
• 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.format.mimetype application/pdfca
• dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1240
• 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.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.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
• dc.subject.keyword money
• dc.subject.keyword japan’s lost decade
• dc.subject.keyword structural model
• dc.subject.keyword deflation.
• dc.subject.keyword Macroeconomics and International Economics
• dc.title Japan's lost decade: Does money have a role?ca
• dc.type info:eu-repo/semantics/workingPaper