Unconventional Monetary Policy in an Open Economy

2014 ◽  
Author(s):  
Jana Bricco
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Unconventional Monetary Policy

scholarly journals Unconventional Monetary Policy in a Small Open Economy

2017 ◽  
Vol 17 (268) ◽  
pp. 1
Author(s):  
Margaux MacDonald ◽  
Micha Ksawery Popiel ◽  
◽  
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Small Open Economy ◽  
Unconventional Monetary Policy

scholarly journals Achieving the Bank of Japan’s Inflation Target

2019 ◽  
Vol 19 (229) ◽  
Author(s):  
Gee Hee Hong ◽  
Rahul Anand ◽  
Yaroslav Hul
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Baseline Scenario ◽  
Unconventional Monetary Policy ◽  
Medium Term ◽  
Macroeconomic Policies ◽  
Inflation Target ◽  
Bank Of Japan ◽  
Positive Shock ◽  
Central Bank Credibility

The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to achieve the price stability target of 2 percent inflation. In this paper, a forward-looking open-economy general equilibrium model with endogenously determined policy credibility and an effective lower bound is developed for forecasting and policy analysis (FPAS) for Japan. In the model’s baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent inflation target over the medium term is below 40 percent, assuming the absence of other policy reactions aside from monetary policy. The likelihood of achieving the inflation target is even lower under alternative risk scenarios. A positive shock to central bank credibility increases this likelihood, and would require less accommodative macroeconomic policies.

scholarly journals Unconventional Monetary Policy in a Small Open Economy

2020 ◽  
Vol 31 (5) ◽  
pp. 1061-1115
Author(s):  
Margaux MacDonald ◽  
Michał Ksawery Popiel
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Small Open Economy ◽  
Unconventional Monetary Policy

Trade Credit and the Transmission of Unconventional Monetary Policy

2020 ◽  
Author(s):  
Manuel Adelino ◽  
Miguel Almeida Ferreira ◽  
Mariassunta Giannetti ◽  
Pedro M. Pires
Keyword(s):  
Monetary Policy ◽  
Trade Credit ◽  
Unconventional Monetary Policy
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