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Identifier to cite or link to this item: https://doi.org/10.15057/27512
Identifier to cite or link to this item: https://hdl.handle.net/10086/27512

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Title
金融政策の目標と政策決定過程
Objectives and Makings of Monetary Policy in Japan
Creator
Creator Name
浅子, 和美 浅子, 和美
Asako, Kazumi Asako, Kazumi
Affiliation
Affiliation Name
立正大学
Creator Name
Spencer, Christopher Spencer, Christopher
Affiliation
Affiliation Name
Loughborough University
Creator Name
劉, 振濤 劉, 振濤
Liu, Zhentao Liu, Zhentao
Affiliation
Affiliation Name
厦門大学
JEL
C51
E52
E58
Abstract
Asako and Kanoh (1997) 等によって，日本銀行が公表する政策目標が実際にマクロ経済の安定化に役立ったことが計量分析によっても裏付けられているが，こうした評価が，ゼロ金利政策や量的緩和政策といった非伝統的金融政策下でも当てはまるのかを，1990年代以降のデータで検証する．モデル分析からは，新しいデータでは累積国債残高の役割が大きく変わった推計結果が得られ，その背景を検証する．また，金融政策決定会合での委員の投票行動の分析も行い，金融政策の目標設定と政策決定過程の相互関連を考察する．
We attempt to identify significant objectives of monetary policy for the period from 1990 to 2013 and compare the results to those obtained by Asako and Kanoh (1997) for an earlier sample period. With the introduction of nontraditional monetary policy management such as zero-interest-rate policy and quantitative-easing policy, we find and examine some important shifts in the role of government bonds modeled by Asako and Kanoh as one of five stabilizing objectives of the monetary policy. We also look into the making of the monetary policy by focusing on the votes by the Bank of Japan Policy Board members.
Description
（小特集：マクロ経済変動と安定化政策 = Macroeconomic Fluctuations and the Stabilization Policy）
Publisher
岩波書店
Issued Date
2015-04-24
Language
Japanese(jpn)
Resource Type
journal article
Version Type
VoR
selfDOI
10.15057/27512
ISSN
00229733
NCID
AN00070761
Source Title
経済研究
Volume Number
66
Issue Number
2
Page Start
97
Page End
114
Appears in Collections
66巻2号 (2015.4)
URL
https://hdl.handle.net/10086/27512