TY  - JOUR
AU  - West,Kenneth D.
TI  - An Aggregate Demand - Aggregate Supply Analysis of Japanese Monetary Policy, 1973-1990
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3823
PY  - 1994
Y2  - April 1994
UR  - http://www.nber.org/papers/w3823
L1  - http://www.nber.org/papers/w3823.pdf
N1  - Author contact info:
Kenneth D. West
Department of Economics
University of Wisconsin
1180 Observatory Drive
Madison, WI  53706
Tel: 608/262-0033
Fax: 608/262-2033
E-Mail: kdwest@wisc.edu
AB  - An aggregate demand - aggregate supply framework is used to analyze the effects of Japanese monetary policy, 1973:1-1990:8. It is found that money supply shocks contribute relatively little to output variability over the sample as a whole. Nor do these shocks seem to be particularly marked during business cycle contractions. The effects of monetary policy on prices and output appear to be quite similar to those of a constant money growth rule.
ER  -