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Rethinking the Power of Forward Guidance: Lessons from Japan

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NBER2017-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w23707
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In the spring of 2013 the Bank of Japan introduced a state-of-the-art monetary policy which included among other things inflation targeting and aggressive use of forward guidance. In contrast to the predictions of conventional macroeconomic theory, these policies have had only very limited success
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2017-08-01
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