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The Australian National University

Japan's secular stagnation and monetary policy

Crawford School of Public Policy|Australia-Japan Research Centre Event. 

Since the end of the 1990s, Japan has been in a period of secular stagnation with a decline in the natural rate of interest. The natural rate of interest, first advocated by Swedish scholar Knut Wicksell in the 19th century, means the interest rate consistent with stable inflation without any shocks to demand and supply. When the natural rate turns negative it becomes highly difficult for monetary policy alone to guide the real interest rate below the negative natural rate.

Find flyers, registration, and complete event details at https://crawford.anu.edu.au/news-events/events/9970/japans-secular-stagnation-and-monetary-policy

Updated:  21 February, 2013/Responsible Officer:  JI Management Group/Page Contact:  Japan Institute