Kobe University Social Science Research Series

Monetary Policies in the Age of Uncertainty

Authors: Matsubayashi, Y., Nakamura, T., Aoki, K., Takahashi, W.

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  • Explains the theory of unconventional monetary policies in an easy-to-understand manner
  • Deepens understanding of the roles of a central bank and its independence in a changing environment
  • Provides a clear picture of the Japanese experience of recent monetary policies in an international comparison
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eBook 42,79 €
price for Spain (gross)
  • ISBN 978-981-16-4146-6
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Softcover 51,99 €
price for Spain (gross)
  • ISBN 978-981-16-4145-9
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  • Institutional customers should get in touch with their account manager
  • Shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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About this book

This book provides an interesting review of Japanese monetary policies after the bubble economy. The Bank of Japan was the first central bank in advanced economies to implement the unconventional monetary policies during the period. After the Lehman shock, most advanced economies also carried out similar monetary policies to boost their own economies. The Japanese experience in the 1990s and 2000s no doubt played a key role during the period. Although various aspects of the experiences have been examined, not many books have been published based on intensive discussions between the macro and monetary theorists who have been active in academics and the practitioners who have actually been involved in monetary policy. This small but important book has focused on the Japanese experience. Evaluation of that experience found that three solid pillars are of crucial importance: theory, institution, and experience. Those form the basis of the book, without theory, no policies will be formulated and implemented, and implementation depends crucially on institution. Chapter 1 provides a clear theoretical background for the unconventional monetary policies and inflation targeting. Chapter 2 intensively explores the meaning and desirability of the independence of central banks. Chapter 3 reviews the consequences of the Japanese monetary policies in recent decades in comparison with those in other advanced economies.

About the authors

Yoichi Matsubayashi has been the dean of the Graduate School of Economics at Kobe University since 2020 and a professor there since 2003. He is also a senior fellow at the Japanese Ministry of Finance's Policy Research Institute and a visiting fellow at the Bank of Japan's Institute for Monetary and Economic Studies.

Tamotsu Nakamura is a professor of economics at Kobe University in Japan and an adjunct professor of economics at Xiamen University in China. He was also a visiting professor of economics at the University of British Columbia in Canada.

Kosuke Aoki is a professor of economics at the University of Tokyo. He received the Japanese Economic Association (JEA) Nakahara Prize, which was established in 1995 to honor researchers in economics under the age of 45 who have made significant contributions that are internationally recognized.

Wataru Takahashi is a professor of economics at the Osaka University of Economics. He worked at the Bank of Japan for 35 years, including as an advisor on international affairs to the governor from 2002 through 2006, responsible for financial cooperation between central banks in East Asia and economic research on the global economy. He was also the director-general of the Bank of Japan Academic think tank, the Institute for Monetary and Economic Studies from 2006 through 2011.


Table of contents (3 chapters)

Table of contents (3 chapters)

Buy this book

eBook 42,79 €
price for Spain (gross)
  • ISBN 978-981-16-4146-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 51,99 €
price for Spain (gross)
  • ISBN 978-981-16-4145-9
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Monetary Policies in the Age of Uncertainty
Authors
Series Title
Kobe University Social Science Research Series
Copyright
2021
Publisher
Springer Singapore
Copyright Holder
The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-16-4146-6
DOI
10.1007/978-981-16-4146-6
Softcover ISBN
978-981-16-4145-9
Series ISSN
2520-1697
Edition Number
1
Number of Pages
XI, 61
Number of Illustrations
2 b/w illustrations, 17 illustrations in colour
Topics