Central Banking and Deflationary Depression: A Japanese Perspective


Event details


Date & time

Wednesday 17 March 2010


Room 1012B (Faculty Suite), H. W. Arndt Building (25A)


Professor Toichiro Asada, Faculty of Economics, Chuo University, Tokyo


Timo Henckel
6125 5540
Joint Seminar with the Research School of Economics
This seminar investigates the roles of central banking in the period of deflationary depression both empirically and theoretically, especially in reference to the Japanese
economy in the 1990s and the 2000s. In the first part of the paper, we summarize the empirical facts on the inferior macroeconomic performance of the Japanese economy and
problematical monetary policy of BOJ(Bank of Japan) in the period of the so-called ?lost decade?(the 1990s) and the continued deflationary depression period( the 2000s). In the
latter part of the presentation, we consider some theoretical models for the interpretation of these henomena.

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