Isabelle Weberpals - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T00:16:37+00:00The Liquidity Trap: Evidence from Japan
https://www.bankofcanada.ca/1997/02/working-paper-1997-4/
Japanese economic activity has been stagnant since the collapse of the speculative asset-price bubble in 1990, despite highly expansionary monetary policy which has brought interest rates down to record low levels. Although several reasons have been put forward to explain the sustained weakness of the Japanese economy, none is more intriguing from the viewpoint of a central bank than the possibility that monetary policy had been largely ineffective because the Japanese economy entered a Keynesian "liquidity trap."1997-02-01T11:49:33+00:00enThe Liquidity Trap: Evidence from Japan1997-02-01International topicsRecent economic and financial developmentsWorking Paper 1997-4 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-4.pdfThe Liquidity Trap: Evidence from JapanIsabelle WeberpalsFebruary 1997EE4E42E5E51E52