Japanese monetary policy and international spillovers

Robert Dekle () and Koichi Hamada

Journal of International Money and Finance, 2015, vol. 52, issue C, 175-199

Abstract: We present a simple monetary model (with sticky prices) to highlight spillovers to output gaps. We then show using a sequence of nonstructural VARs and a Global VAR, the effects of monetary policies measured using short-term interest rates and money base stocks. We conclude that money base expansions in particular have generally positive output effects both within and across borders.

Keywords: Monetary spillovers; VARs; GVAR; U.S.-Japan Economic Relations (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jimfin:v:52:y:2015:i:c:p:175-199

DOI: 10.1016/j.jimonfin.2014.11.018

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