BoJ partly to blame for lost decade: CEPR paper
Monetary policy is to blame for the poor macroeconomic outcomes in Japan's lost decade, new research from the Centre for Economic Policy Research posits.
The analysis shows that between1998 and 2003, monetary policy was very restrictive and says this has contributed to both the ensuing recession and deflation. The research finds that the situation appears to have changed since 2003, but only marginally. The research shows that the slow expansion of the quantity of money in circulation may have
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