Recent monetary policy effects on Japanese macroeconomy

Yutaka Kurihara

Journal of Economic and Financial Studies (JEFS), 2017, vol. 5, issue 5, 12-17

Abstract: This paper empirically analyzes the effects of recent monetary policy based on expected and real-time data for Japan. Also, expected data between different time periods would have impacts on the economy and are taken into account. Since the 2000s, Japan has experienced a serious recession and low or zero interest rates policy has been conducted, so such a special situation might have influence on the economy. The empirical results show that past forecast error data of GDP plays a significant role on macro economy in Japan, however, impacts on the economy are not found during a longer period, over a quarter. Furthermore, forecast data is not crucial to the economy. Classification JEL: E4, E5.

Keywords: Forecast; GDP; Inflation; Macroeconomics; Monetary policy. (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:lrc:lareco:v:5:y:2017:i:5:p:12-17

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