Departmental Bulletin Paper Quantitative Easing and the Labor Market in Japan

Kuo, Chun-Hung  ,  Miyamoto, Hiroaki  ,  宮本, 弘暁

EMS-2016-02pp.1 - 8 , 2016-02 , IUJ Research Institute, International University of Japan
NCID:AA12509645
Description
This paper studies the effectiveness of unconventional monetary policy on the labor market. By using the Japan's data, we estimate structural vector autoregressive models. Our empirical analysis demonstrates that while unconventional monetary policy boosts output and employment significantly, its effects on inflation and nominal wages are limited.
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http://nirr.lib.niigata-u.ac.jp/bitstream/10623/64511/1/EMS_2016_02.pdf

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