On 9 March 2006, the Bank of Japan announced a change in its monetary policy framework. It decided to terminate quantitative easing policy and intends to attach more importance to price stability. Because the new strategy shares similarities with the one used by the Eurosystem, the paper will use this point of comparison to examine the respective monetary policymaking institutions of Japan and the euro area.
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*This paper was written while Uwe Vollmer was staying at Kobe University as a visiting scholar. He wishes to thank Kobe University for the fi nancial support and generous hospitality he received during this visit. The authors would also like to thank Monika Bucher and Achim Hauck for their helpful remarks and James Lewelyn for his careful grammatical corrections of this paper.
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Bebenroth, R., Vollmer*, U. Bank of Japan versus Eurosystem. Intereconomics 42, 43–53 (2007). https://doi.org/10.1007/s10272-006-0203-6
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DOI: https://doi.org/10.1007/s10272-006-0203-6