LEADER 03780nam 22006014a 450 001 9910820581803321 005 20200520144314.0 010 $a0-262-26987-2 010 $a1-4237-3071-2 035 $a(CKB)1000000000002963 035 $a(SSID)ssj0000155053 035 $a(PQKBManifestationID)11158446 035 $a(PQKBTitleCode)TC0000155053 035 $a(PQKBWorkID)10098878 035 $a(PQKB)10782598 035 $a(MiAaPQ)EBC3338434 035 $a(OCoLC)228039737$z(OCoLC)62148103$z(OCoLC)648371066$z(OCoLC)697596466$z(OCoLC)880329047$z(OCoLC)888626585$z(OCoLC)923251582$z(OCoLC)961652318$z(OCoLC)962619144$z(OCoLC)988518298$z(OCoLC)991985406$z(OCoLC)1037442238$z(OCoLC)1037901168$z(OCoLC)1038624091$z(OCoLC)1045451290$z(OCoLC)1055367058$z(OCoLC)1081287092$z(OCoLC)1083554211 035 $a(OCoLC-P)228039737 035 $a(MaCbMITP)3000 035 $a(Au-PeEL)EBL3338434 035 $a(CaPaEBR)ebr2001031 035 $a(OCoLC)923251582 035 $a(EXLCZ)991000000000002963 100 $a20000518d2000 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial policy and central banking in Japan /$fThomas F. Cargill, Michael M. Hutchison, Takatoshi Ito 205 $a1st ed. 210 $aCambridge, Mass. $cMIT Press$dc2000 215 $aviii, 196 p. $cill 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a0-262-03285-6 320 $aIncludes bibliographical references (p. [183]-189) and index. 327 $aFinancial Policy and Central Banking in Japan -- Contents -- Preface -- Introduction -- The NCC's? Unprecedented Economic and Financial Distress -- The New Financial Supervision and Regulatory Framework -- Inflation Targetingx Liquidity Trapsx and the New Bank of Japan -- Challenges Facing Financial Policy and Central Banking in Japan -- References -- Index. 330 8 $aAnnotation Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms have taken place amid recession and rising unemployment, collapsing asset prices, a looming banking crisis, and the lowest interest rates in the industrial world. This book analyzes how the bank-dominated financial system--a key element of the oft-heralded "Japanese economic model"--Broke down in the 1990s and spawned sweeping reforms. It documents the sources of the Japanese economic stagnation of the 1990s, the causes of the financial crisis, the slow and initially limited policy response to banking problems, and the reform program that followed. It also evaluates the new financial structure and reforms at the Bank of Japan in light of the challenges facing the Japanese economy. These challenges range from conducting monetary policy in a zero-interest rate environment characterized by a "liquidity trap" to managing consolidation in the Japanese banking sector against the backdrop of increasing international competition. 606 $aFinance$zJapan 606 $aBanks and banking, Central$zJapan 615 0$aFinance 615 0$aBanks and banking, Central 676 $a332.1/1/0952 700 $aCargill$b Thomas F$0115339 701 $aHutchison$b Michael M$0122526 701 $aIto$b Takatoshi$f1950-$0116437 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910820581803321 996 $aFinancial policy and central banking in Japan$94187747 997 $aUNINA