BNE Publishes Economics Paper

01/05/2006

The BNE publishes a paper on the impact of regional monetary policy in Japan

The Briefing Notes in Economics (BNE) has just recently published a paper by a Japanese academic exploring the regional impact of monetary policy as practiced by Japan's central bank. The abstract for the paper is as follows:"Monetary policy suitable for one region may not be suitable for other regions. Using the social loss function, the policy reaction function, and event study approaches, this paper is the first attempt to empirically investigate asymmetric impacts of monetary policy on different regions in Japan. This paper finds that actual monetary policy was more favourable for urban areas than for rural areas and suggests that monetary policy should be supplemented by other policy instruments, such as fiscal expenditures."

Professor Parviz Dabir-Alai (the BNE's editor)says that 'even though the paper is Japan-specific there are, of course, important lessons here for Central Banks in other parts and regions of the world, including the US Federal Reserve and the European Central Bank.'

Professor Parviz Dabir-Alai, says that students in Economics at Richmond have the opportunity to work for the BNE in a number of different ways giving them insights into academic publishing.

The paper is available in PDF format @
BNE and then click on 'Current issue for download'.

Link to this page: http://www.richmond.ac.uk/n/72.aspx