Impacts of Changing Crude Oil Prices and Macroeconomic Conditions on Short-Term Output Fluctuations in Japan

Yu Hsing

Japanese Economy, 2009, vol. 36, issue 2, 103-114

Abstract: Applying the monetary policy function (Romer 2000, 2006; Taylor 2001), this article reveals that a 10 percent rise in the real crude oil price is expected to reduce Japan's real gross domestic product (GDP) by 0.19 percent and that increased government spending as a percent of the GDP, a higher real stock price, real appreciation of the yen, a lower world real interest rate, and a lower expected inflation rate would raise real output for Japan.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:mes:jpneco:v:36:y:2009:i:2:p:103-114

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DOI: 10.2753/JES1097-203X360205

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