E-viri
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Momma, Kazuo; Kobayakawa, Shuji
Papeles de economía española, 01/2014 140Journal Article
This article reviews the evolution of the Bank of Japan (BOJ)'s monetary policy since 1999, with particular focus on policy measures adopted after the Lehman shock. The BOJ started the zero Interest rate policy In 1999, followed by the Introduction of quantitative easing In 2001 -06. After the global financial crisis, It Introduced a number of new policy Initiatives; some of them jointly with other central banks, others to combat deflation. Most recently, It embarked on a new policy framework of quantitative and qualitative monetary easing (QQE) In April 2013, and since then there have been favorable developments In economic activity and prices.
