Renouf Publishing Co. Ltd.
embedded image
Renouf
Online Bookstore

ABOUT SSL CERTIFICATES

 
Quick Search
for: 
in 
 
Advanced search
F.A.Q.
Featured books
New in print
Best Sellers
President's picks

Shopping cart/Checkout  [0]
Sign-up for eUpdates
Achieving the Bank of Japan’s Inflation Target
by Gee Hee Hong, Rahul Anand, and Yaroslav Hul

Series:Working Paper No. 19/229
ISBN 9781513518350
Code: #WPIEA2019229

Publication year: 2019

Cdn: $27.00; US: $25.00
Paperback
Language: English
37 pages
Add to cart
The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to achieve the price stability target of 2 percent inflation. In this paper, a forward-looking open-economy general equilibrium model with endogenously determined policy credibility and an effective lower bound is developed for forecasting and policy analysis (FPAS) for Japan. In the model’s baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent inflation target over the medium term is below 40 percent, assuming the absence of other policy reactions aside from monetary policy. The likelihood of achieving the inflation target is even lower under alternative risk scenarios. A positive shock to central bank credibility increases this likelihood, and would require less accommodative macroeconomic policies.
Achieving the Bank of Japan’s Inflation Target
Cdn: $27.00; US: $25.00
International Monetary Fund (IMF) BookID: 126374 Added: 2019.11.25