Japanese Monetary Policy
The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity.
This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.
Kenneth J. Singleton
1 A Comparative Perspective on Japanese Monetary Policy: Short-Run Monetary Control and the Transmission Mechanism
2 Market Operations in Japan: Theory and Practice
3 Japanese Corporate Investment and Bank of Japan Guidance of Commercial Bank Lending
Takeo Hoshi, David Scharfstein, and Kenneth J. Singleton
4 The Interest Rate Process and the Term Structure of Interest Rates in Japan
John Y. Campbell and Yasushi Hamao
5 Monetary Policy and the Real Economy in Japan
6 An Aggregate Demand-Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990
Kenneth D. West