Quantitative easing proved effective in Japan: IMF paper
Japan's quantitative easing measures had a significant impact on bond yields and equity prices, but no notable effect on exchange rate and inflation expectations, according to an International Monetary Fund paper published on Wednesday.
Raphael Lam, the paper's author, uses an event study approach to assess the impact of Japan's monetary easing measures on financial markets. With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary easing
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