NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Rethinking the Power of Forward Guidance: Lessons from Japan

Mark Gertler

NBER Working Paper No. 23707
Issued in August 2017

---- Acknowledgements ----

I am an outside advisor to the Bank of Japan. Prepared for the annual IMES conference at the Bank of Japan in May 2017. Thanks to both Diego Anzoaetgui and Joseba Martinez for great research assistance. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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