An Aggregate Demand - Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990

Kenneth West ()

No 3823, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: An aggregate demand - aggregate supply framework is used to analyze the effects of Japanese monetary policy, 1973:1-1990:8. It is found that money supply shocks contribute relatively little to output variability over the sample as a whole. Nor do these shocks seem to be particularly marked during business cycle contractions. The effects of monetary policy on prices and output appear to be quite similar to those of a constant money growth rule.

Date: 1991-08
Note: ME
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Published as Japanese Monetary Policyedited by Kenneth J. Singleton University of Chicago Press; 1993, pp. 161-189

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Chapter: An Aggregate Demand–Aggregate Supply Analysis of Japanese Monetary Policy, 1973–1990 (1993)
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