Chapter

Introduction to Ease-15:

Edited by Takatoshi Ito and Andrew K. Rose

in Monetary Policy with Very Low Inflation in the Pacific Rim

Published by University of Chicago Press

Published in print October 2006 | ISBN: 9780226378978
Published online February 2013 | e-ISBN: 9780226379012 | DOI: http://dx.doi.org/10.7208/chicago/9780226379012.003.0001
Introduction to Ease-15:

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Japan is perhaps the most prominent among Asian countries that have experienced deflation in the last fifteen years. Mainland China, Taiwan, and Hong Kong amongst others have also experienced persistently negative inflation rates. Monetary policy in environments of very low inflation is a topic of great interest. The deflation experience in Japan is discussed in this book, as well as Japanese monetary policy. The Japanese stock market and Korean housing market are also described. The book presents new innovative approaches to deflationary problems in Japan and East Asian countries. Various aspects of why prices have been falling, the role of asset markets in price movements, and the role of monetary policy to fight deflation are explored.

Keywords: monetary policy; inflation; Japan; Hong Kong; deflation; stock market; housing market; price movements

Chapter.  2258 words. 

Subjects: Business and Management

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