IDEAS home Printed from https://ideas.repec.org/p/cnn/wpaper/17-004j.html
   My bibliography  Save this paper

経済史から見た「異次元緩和」

Author

Listed:
  • Tetsuji Okazaki

Abstract

This paper compares the new dimension monetary easing by the Bank of Japan under the Abe administration since April 2013 with the Takahashi Policy in the 1930s. Korekiyo Takahashi, who was appointed to be the Minister of Finance under the Great Depression, implemented a distinctive set of macro-economic policies including suspension of the gold standard, monetary easing, and fiscal spending based on underwriting of public bonds by the Bank of Japan. Those scholars who promoted the radical monetary easing in recent years, referred to the Takahashis policy to justify their argument. By comparing the basic macro-economic variables between the 1930s and the 2010s, we found that the impacts of these two policies are substantially different. It is suggested that the difference reflects the difference in the condition of the financial market as well as the long-term momentum of economic growth.

Suggested Citation

  • Tetsuji Okazaki, 2017. "経済史から見た「異次元緩和」," CIGS Working Paper Series 17-004J, The Canon Institute for Global Studies.
    • Handle: RePEc:cnn:wpaper:17-004j
    as

    Download full text from publisher

    File URL: https://cigs.canon/article/uploads/pdf/workingpapers/170810_okazaki.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cnn:wpaper:17-004j. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: The Canon Institute for Global Studies (email available below). General contact details of provider: https://edirc.repec.org/data/canonjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.