The Great Stagnation: What Can Policymakers Do?

Sushil B. Wadhwani

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: Although the economic recovery in the UK has been disappointing, it is inappropriate to either assert that Japan's two lost decades illustrate the ineffectiveness of stimulative monetary policy or that the UK is predestined to perform as badly as Japan. Recall that the UK has, so far, avoided the deflation that held back the Japanese economy. One could, instead, argue that Japan illustrates the pitfalls associated with insufficiently aggressive monetary policy. Hence, it is appropriate to consider how we might make monetary policy more effective in the UK.

Keywords: Annual Peston Lecture; tax incentives; inflation; stock market; monetary policy; Japan; UK (search for similar items in EconPapers)
Date: 2013-04
References: Add references at CitEc
Citations:

Downloads: (external link)
https://cep.lse.ac.uk/pubs/download/dp1198.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp1198

Access Statistics for this paper

More papers in CEP Discussion Papers from Centre for Economic Performance, LSE
Bibliographic data for series maintained by ().