The Political Economy of Japanese Monetary Policy
This book is about the formulation and execution of Japanese monetary policy within a broad political and institutional context. We explore the creation and the evolution of central banking in Japan, the institutional structure, how policy is formulated and how it has evolved in the face of Japan's changing domestic and international environment, and how policy is influenced by Japan's political institutions and by the Bank of Japan's formal and informal relationship with the Ministry of Finance. Our primary focus is on recent experience, especially since the collapse of the Bretton Woods system. Though we also discuss the historical record and the "high growth" with a fixed exchange rate in the period 1959-1971, the fundamental changes on the real and financial sides of the Japanese economy that have occurred in the past 20 years have done much to diminish the relevance of the previous periods to the present workings and policies of the Bank of Japan.
- Derechos de autor:
- 1997 Massachusetts Institute of Technology
- Book Quality:
- MIT Press
- Date of Addition:
- Business and Finance, Nonfiction, Politics and Government,
- Usage Restrictions:
- This is a copyrighted book.
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