Summary panel: Japan's experience with zero interest rates

Kazuo Ueda ()

Conference Series ; [Proceedings], 2000, 1107-1109

Abstract: The current policy stance of the BOJ has an automatic stabilizer element in it despite the fact that we have hit the zero rate bound. That is to say, the promise to \\"keep the zero rate until deflationary concerns are over\\" puts downward pressure on long-term interest rates when people see negative signs about the economy because they expect the zero rate to stay for a longer period of time. A similar thing will happen anyway. But the current commitment seems to have strengthened the effect.

Keywords: Interest rates - Japan; Bank of Japan; Monetary policy - Japan (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations: View citations in EconPapers (4)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:fip:fedbcp:y:2000:p:1107-1109

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Conference Series ; [Proceedings] from Federal Reserve Bank of Boston Contact information at EDIRC.
Bibliographic data for series maintained by Catherine Spozio ().