High-powered money contracts despite falling rates

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• Princes of the Yen whole source · open book

  Using this analysis, Iwata points out that the central bank tightened monetary policy too late and then failed to stimulate the economy for too long (while interest rates had been falling since 1991, the supply of high-powered money contracted for most of 1992).38

  chapter: Appendix: Japanese Fiscal and Monetary Policies in the 1990s

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• Richard Werner author of the source

Appears in 3 stories

• Paper money, central banks, and credit creation step 44
• Princes of the Yen: Japan built, bubbled, and broken step 221
• The lost decade: credit crunch, stimulus, and broken banks step 11

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